Kalpataru Power plans to raise Rs577 crore through QIP
23 Feb 2010
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.