Kalpataru Projects International ups fund limit via NCDs to Rs 1,600 cr

Kalpataru Projects International Ltd (KPIL) on Tuesday said its board has approved a proposal to increase the fundraising limit to Rs 1,600 crore through the issuance of NCDs.

To date, the company has an outstanding non-convertible debentures (NCDs) of Rs 1,298 crore.

"The board of directors has inter-alia approved the proposal for setting up of fund raising limit by way of issuance of secured/unsecured redeemable NCDs by the company up to Rs 1,600 crore (principal amount) outstanding at any point of time (inclusive of current NCDs amounting to Rs 1,298 crore) and has authorized the Executive Committee of the Board of Directors for the same,' KPIL said in an exchange filing.

KPIL is a diversified engineering and construction company engaged sectors like power, oil and gas, urban mobility among others.