Kalpataru Power to sell stake in 3 power transmission assets

Kalpataru Power Transmission Limited (KPTL) has entered into binding agreements with CLP India Private Limited to sell its stake in 3 power transmission assets for an estimated enterprise value of Rs. 3,275 crore.

The assets include Kalpataru Satpura Transco Private Limited (KSTPL), Alipurduar Transmission Limited (ATL) and Kohima Mariani Transmission Limited (KMTL). The transaction is subject to requisite approvals and compliances.

As a part of this deal, the transaction for ATL and KMTL will be effective post Commercial Operation Date (COD) and fulfilment of certain conditions. Techno Electric & Engineering Company Limited (Techno) owns 26 per cent stake in KMTL.

The estimated amount of debt at the SPVs levels would be approximately Rs. 2,000 crore at the time of COD.

KPTL is one of the largest and fastest growing specialised EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.

CLP India has gradually grown its footprint to become one of the largest foreign investors in the Indian power sector.

On Wednesday, the stock of Kalpataru Power opened gap up at Rs. 549 per share from its previous close of Rs. 531.80. In the morning session, it touched Rs. 551.40 level.