Kalpataru Power opens Rs 500 cr QIP issue

Kalpataru Power Transmission on Friday said its Rs 500 crore shares issue plan through qualified institutional placement (QIP) basis opened on April 29.

The company wants to raise funds up to Rs 500 crore by way of QIP issue and has received shareholders' nod for the same.

The company's QIP committee decided to open the issue on April 29, it said in a filing to the BSE.

"The minimum price at which shares will be issued, shall be the date of this meeting (QIB committee) that is April 29," Kalpataru said.