Kalpataru Power Transmission Ltd on Friday said it has bought back 58.06 lakh equity shares for Rs 142.68 crore.
The company had announced to buy back its equity shares from the open market through the stock exchange
About Company
Kalpataru Power Transmission Limited (KPTL) is part of the Kalpataru Group established in 1969.
It is a diversified conglomerate spanning Real Estate, Power Generation and Transmission, Construction of Roads, Factories, Buildings and Oil and Gas Infrastructure and Agri-Logistics spaces.
Price and Quantity
The company has bought back 58,06,262 equity shares at an average price of Rs 245.75 per equity share.
Percent of Buyback
The company has deployed Rs 142,68,70,928.45, which represents 71.34 per cent of the maximum buyback size.
Promoters Holdings
After the buyback, the equity stake of promoter and promoter group has increased to 56.49 per cent from 54.37%
Close of Trading hour
The buyback committee has approved the closure of the buyback pursuant to the terms of the public announcement, with effect from the close of trading hours of November 27.
Comment from MD and CEO
“We are pleased to announce the complete commissioning of the KMTL Transmission Asset. In line with our business plan, we will now swiftly proceed towards the divestment phase of KMTL.”
“This asset has already been divested to CLP India and the process of transaction closure will be completed soon,” Manish Mohnot
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