Wednesday , October 20 2021

Kalpataru Power’s Promoters sell 4.46% stake for Rs 306 crore

Kalpataru Power Transmission’s (KPTL) Promoters — Mofatraj Munot and Parag Munot have sold 69 lakh equity shares of KPTL, representing 4.46% of KPTL’s equity shares, for an aggregate realization of around Rs 306 crore. The liquidity through sale proceeds will enable the Promoters in making investments in privately held businesses to capitalize on growth opportunities, reducing pledged shares and other purposes.

Following the sale of said shares, the Promoter Group’s holding in the company will be 54.38%. The Promoter Group will continue to maintain a majority stake in KPTL and do not plan to sell any further shares in foreseeable future.

Kalpataru Power Transmission is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.

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