Kalpataru projects international shares saw a 3 per cent decline on NSE (National Stock Exchange), as company completed fund raising of Rs 1,000 crore through QIP (Qualified Institutional Placement) at Rs 1,201.00 per share.
The kalpataru projects international went on to touch the day low level of Rs 1,303.00 per share on the bourses, after hitting the opening bell at Rs 1,330.00 per share on the Indian Exchanges.
Kalpataru Projects International's share concluded the trading session around Rs 1,310.90 per share on the bourses with a 2.13 per cent decline amounting to a Rs 28.50 per share on the Indian exchanges.
QIP details
83.26 lakh equity shares were issued by the Engineering, Procurement, and Construction company at a price of Rs 1,201 each. The price was set with a 10.3 per cent discount.
According to the exchange filing, the QIP received responses from investors such as insurance companies, foreign investment funds, and domestic mutual funds. This marks KPIL's first equity raise in more than ten years.
According to the company, the allocation of equity shares in the issue resulted in an increase in the paid-up equity share capital from Rs 32 crore to Rs 34 crore. The filing states that the QIP Committee approved the issue at its meeting on Tuesday, and the issue price of the QIP was Rs 1,201 per equity share, or Rs 999 crore.
Kalpataru Projects International Q2 FY25
For the September quarter, Kalpataru Projects reported a 39.7Rs increase in net profit, totaling Rs 25.6 crore. The business reported a net profit of Rs 90 crore during the same time last year.
Exchange filling
Due to strong execution and a healthy order backlog, revenue from operations climbed 9.1 per cent to Rs 4,930 crore from Rs 4,518.4 crore in the second quarter of the previous fiscal year.
EBITDA increased by 83.8 per cent to Rs 438.3 crore in the second quarter of this fiscal year compared to Rs 238.4 crore in the same period last year.
