Kalpataru Power Transmission (KPTL) has signed a definitive agreement with Tano India Private Equity Fund II (Tano) to acquire 19.94% stake in Shree Shubham Logistics (SSL) for a consideration of Rs 64.66 crore.
The consideration will be paid through a non?cash equity swap transaction, in which 12,54,900 equity shares of KPTL will be issued to Tano at the value of Rs 515.25 per share, subject to relevant approvals. On completion of this acquisition, KPTL’s stake in SSL shall increase to around 100%.
Kalpataru Power Transmission is one of the largest and fastest growing specialized 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.
