Kalpataru Projects International Ltd. has raised Rs 1,000 crore via qualified institutions placement. The firm issued 83.26 lakh equity share at Rs 1,201 apiece.
The paid-up equity share capital of the company increased from Rs 32 crore to Rs 34 crore, pursuant to the allotment of equity shares in the issue, according to the company.
According to the filing, the QIP Committee at its meeting held on Tuesday approved the issue and allotment of 83 lakh equity shares to eligible qualified institutional buyers at the issue price of Rs 1,201 per equity share aggregating to Rs 999 crore, pursuant to the issue.
Shares of Kalpataru Projects International Ltd. closed 1.22% higher at Rs 1,339 apiece on the NSE, compared to a 1.35% decrease in the benchmark Nifty 50.
The stock has risen 88.86% on a year-to-date basis and 100.39% over the past 12 months.
The stock rose as much as 2.24% to Rs 1,352 per share.
Of the 16 analysts tracking the company, 14 have a 'buy' rating on the stock, and two suggest a 'hold', according to Bloomberg data. The average of 12-month analysts' consensus price target implies a potential upside of 8.3%.
(With inputs from PTI).
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