On 5th May 2020, Kalpataru Power Transmission Limited(KPTL) announced the successful completion of the sale of the entire stake in Kalpataru Satpura Transco Private Limited(KSTPL) to CLP India Private Limited of CLP groups, one of Asia’s largest investor-owned power business and from November 20, 2019, KSTPL ceased to be a subsidiary of the company.
Key Points:
i.The Kalpataru Power Transmission after the successful completion of the sale rose upto 1.12% to Rs. 221.30. The Net profit surged 16.5% to Rs 127 crore on a 15.1% rise in net sales to Rs 3162 crore in Q3 December 2019 against Q3 December 2018.
ii.In July 2019, KPTl entered into an agreement with the Caisse de dépôt et placement du Québec (CDPQ), Canada’s institutional fund manager to support CLP India to sell their stake in three power transmission assets for an estimated enterprise value of Rs 3,275 crore.
iii.The terms of the agreement dated July 3rd of 2019 between the KPTL, ATL and CLP was to transfer its entire 100% stake in ATL to CLP upon achieving the commercial operations of both the elements was achieved in January 2020.
iv.The company is actively pursuing and evaluating opportunities to sell the stake to the suitable investors in Jhajjar KT Transco Pvt Ltd(JKTPL), operating since March 2012 holding 49.72%.
v.The buyers for Alipurduar asset stated that the Satpura transmission asset in FY19-20 are being pursued and evaluated the opportunities to sell Jhajjar assets.
About CDPQ:
Chairman– Robert Tessier
President and CEO– Charles Emond
Founded in– 1965
Headquarters– Québec,Canada
