Kalpataru Power plans to raise Rs577 crore through QIP

23 Feb 2010

1

The board of Kalpataru Power Transmission today approved raising up to Rs577 crore via a qualified institutional placement or other modes of follow-on offerings, the power equipment maker said in a statement.

In a filing to the Bombay Stock Exchange, the company said its board had approved the fund raising plan of up to $125 million through a Qualified Institutional Placement (QIP) and various other modes.

The company aid the funds raised would go towards support for tis future growth plans and business opportunities.

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