Photo: Indranil Bhoumik/MintPhoto: Indranil Bhoumik/Mint

New Delhi: Kalpataru Power Transmission Ltd on Sunday said its shareholders’ have approved the company’s proposal to raise up to Rs.300 crore through non-convertible debentures (NCDs).

In a regulatory filing, the firm said its shareholders have approved the “issue and allot secured/unsecured redeemable non-convertible debentures (NCDs) up to Rs.300 crore”.

On the rationale behind the fund raise, it said: “In order to meet the financial needs of the company, the company may make an offer of NCDs or invite subscription to NCDs on private placement basis.”

The company posted 50% jump in standalone net profit atRs.64.53 crore in the quarter ended June 2016.

The standalone net profit was Rs.43.01 crore in the year-ago quarter. Total income from operations was Rs.1,187.37 crore in the first quarter of this fiscal compared to Rs.1,193.64 crore in the year-ago period.

Last month, the firm said it has secured new orders worth around Rs.1,900 crore. The company further said it has bagged Rs.1,340 crore turnkey project for construction of 225 kv transmission line and substation in Republic of Senegal.

The second order is for constriction of 500 kv transmission line in Afghanistan worth Rs.575 crore, funded by Asian Development Bank (ADB).[“Source-Livemint”]