Kalpataru Power Transmission terminates deal with CLP India

Kalpataru Power Transmission Limited (KPTL) has informed the bourses that the company has terminated its deal with CLP India Private Limited.

The deal has been terminated for non-fulfilment of certain conditions. This deal was related to the sale of stake in Alipurduar Transmission Limited (ATL), a wholly-owned subsidiary of the company.

The share purchase and shareholders’ agreement (SPSA) with regards to this deal was implemented amongst the company, CLP and ATL on July 3, 2019.

The consolidated order book as on December 31, 2019 stood at Rs 14,867 crore and order inflows YTD FY20 came in at Rs 6,456 crore. Also, the company has L1 position of around Rs 1,500 crore majorly in transmission & distribution business.

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.

In today’s trading session, the stock of Kalpataru Power Transmission opened at Rs 223 and jumped by 12 per cent and made an intraday high of Rs 256 on BSE.