Kalpataru Power rallies 9% on board nod for Rs 99-crore fund raise via NCDs

A total of 990 NCDs of face value of Rs 10 lakh each will be issued at a coupon rate of 8.46 per cent under the fundraising plan

Shares of Kalpataru Power Transmission (KPTL) rallied nearly 9 per cent to an intra-day high of Rs 566 per share on the BSE on Friday as the company's board approved a fund raise plan. 

In a filing on Thursday, the company said its board has approved raising Rs 99 crore via the issuance of non-convertible debentures (NCDs). 

"The executive committee of the board of directors has approved the issuance of listed, rated, unsecured, redeemable, taxable, NCDs of Rs 99 crore on private placement basis," it said. 
The stock has surged over 12 per cent in the last two session