KPTL seeks shareholders' nod to raise Rs 300 crore via NCDs

NEW DELHI: Kalpataru Power Transmission Ltd has sought shareholders' approval to raise Rs 300 crore through issuance of non-convertible redeemable debentures.

A special resolution is listed for the Annual General Meeting of the company on August 12 for allowing the board to issue secured/unsecured redeemable non-convertible debentures for an aggregate amount of Rs 300 crore, the company stated in a regulatory filing today.

The debentures can be issued during the period of one year period from the date of this Annual General Meeting, in one or more series/tranches, on a private placement basis, to one or more persons, bodies corporate, banks/financial institutions, mutual funds, NBFC, other investors / investing agencies etc.

Besides this, the shareholders will also consider and approve the financial results of the company in the annual general meeting next month.

There is also a proposal to approve the interim dividend of Rs 1.50 per equity share already paid during the year, for the year ended March 31, 2016.