Kalpataru Projects Raises Rs 1,000 Cr via QIP
Dec 18, 2024 10:49
Kalpataru Projects International (KPIL) has raised Rs 1,000 crore through a Qualified Institutional Placement (QIP), marking its first equity raise in over a decade. The funds will strengthen the company's balance sheet and accelerate growth plans.
New Delhi, Dec 18 (PTI) Kalpataru Projects International (KPIL) on Wednesday said it has raised Rs 1,000 crore through the issuance of equity shares on a QIP basis.
This marks KPIL's first equity raise in over a decade, the company said in a statement.
The KPIL, a diversified Engineering, Procurement and Construction (EPC) company with over four decades of experience, has successfully raised Rs 1,000 crore through a Qualified Institutional Placement (QIP).
The QIP witnessed an overwhelming response from a diverse group of investors, including domestic mutual funds, foreign investment funds and insurance companies.
Manish Mohnot, MD & CEO, KPIL, said, "The overwhelming response to our QIP reflects the unwavering confidence of investors in KPIL's diversified business profile... The funds raised through QIP will further strengthen our balance sheet, enhance our financial flexibility and accelerate our growth plans."
KPIL is one of the largest specialised EPC companies engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways and Airports.
KPIL is currently executing projects in over 30 countries and has a global footprint in 75 countries.
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