Kalpataru Projects to Prepay Non-Convertible Debentures Ahead of Maturity

Kalpataru Projects International Ltd. has announced plans to prepay its outstanding non-convertible debentures (NCDs) before their scheduled maturity. The move aligns with regulatory compliance and reflects the company’s robust financial management.

Prepayment of NCDs Scheduled for January 2025

The Board of Directors of Kalpataru Projects will convene on Dec. 24 to discuss the early prepayment of non-convertible debentures issued on a private placement basis. The company plans to prepay 500 NCDs worth ₹50 crore, along with accrued interest, on Jan. 10, 2025.

As per the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021, the company has issued a Prepayment Notice to the Debenture Trustee and NCD holders, informing them of its intention. This action underscores Kalpataru’s proactive approach to managing its debt obligations.

Successful Fundraising via QIP Boosts Capital

In addition to its prepayment plan, Kalpataru successfully raised ₹1,000 crore through a qualified institutions placement (QIP). The company issued 83.26 lakh equity shares at ₹1,201 per share, increasing its paid-up equity capital from ₹32 crore to ₹34 crore.

The QIP Committee approved the allotment to eligible institutional investors, ensuring the company’s ability to meet its financial commitments while maintaining a strong capital structure.

Kalpataru Projects Share Performance

As of December 20, 2024, 2:10 PM, the shares of Kalpataru projects are trading at ₹1,284.60 per share with a decline of 1.07% from its previous day’s closing price. Over the last month, the stock has seen a surge of 7.60%. While over the year the stock has surged by 91.77% the stock has a 52-week high and 52-week low of ₹1,449.00 per share and ₹626.95 per share respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.