Power transmission and distribution company Kalpataru Power Transmission today said it has raised Rs 450 crore by private placement of shares with qualified institutional buyers for capacity expansion.
The company has raised the funds by way of qualified institutional placement (QIP) route, by issuing shares at Rs 1,074.20 per equity share, Kalpataru Power Transmission said in a filing to the Bombay Stock Exchange (BSE).
The proceeds from the QIP would be utilised for capacity expansion in transmission sector, the filing added.
"We will utilise the issue proceeds to create additional growth opportunities for the group in our existing area of expertise namely power transmission, oil and gas and agriculture logistics," Executive Director of the company Manish Mohnot said.
Shares of Kalpataru Power were trading at Rs 1,062 on the BSE, down 1.05 per cent from previous close.
