Kalpataru seeks shareholders' nod to raise borrowing limit to Rs 12,000 cr from Rs 10,000 cr

Kalpataru Power Transmission Ltd (KPTL) has sought shareholders' approval to raise the borrowing limit to Rs 12,000 crore from the existing Rs 10,000 crore in its annual general meeting scheduled for July 30.

"It is proposed that the board be authorised to create charge / mortgage / hypothecation on the properties of the company for the purpose of securing the borrowings availed by the Company of sums not exceeding Rs 12,000 crores over and above the paid-up share capital, free reserves and securities premium of the company," a BSE filing said.

The shareholders had set the borrowing limit at Rs 10,000 crore at the annual general meeting held on September 27, 2014, according to the statement.

The company has also sought shareholders' nod to issue 12,54,900 equity shares having a face value of Rs 2 each at a premium of Rs 513.25 per share aggregating to Rs 64.65 crore on a preferential basis to Tano, in consideration of the purchase of 1,46,45,199 equity shares of Shree Shubham Logistics Ltd held by the Tano.