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Kalpataru Power Transmission Ltd (KPTL) said on Thursday that it has got shareholders’ approval to raise the borrowing limit to ₹12,000 crore from the existing ₹10,000 crore.
A resolution in this regard was approved by the majority of shareholders at the company’s annual general meeting (AGM) on July 30, according to a BSE filing by the KPTL.
The company had proposed that the board be authorised to create charge, mortgage and hypothecation on the company’s properties for securing borrowing of a sum not exceeding ₹12,000 crore over and above the company’s paid-up share capital, free reserves and securities premium.
The shareholders had set the borrowing limit at ₹10,000 crore at the AGM on September 27, 2014.
The firm has also got shareholders’ nod to issue 12,54,900 equity shares having a face value of ₹2 each at a premium of ₹513.25 per share aggregating to ₹64.65 crore on a preferential basis to Tano, in consideration of the purchase of 1,46,45,199 equity shares of Shree Shubham Logistics Ltd held by the Tano.
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