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The Board of Kalpataru Projects International at its meeting held on 11 August 2023 has approved the proposal for issuance of secured / unsecured redeemable Non-Convertible Debentures upto Rs. 300 crore by the Company in one or more tranches.
The Board has approved issuance of Guarantee support on behalf of Kalpataru Power Chile SpA (KPCSA), wholly owned subsidiary of the Company for an amount not exceeding USD 10 Million, to be issued in one or more tranches from time to time in favour of one or more lenders of KPCSA, to be valid for a period not beyond December 31, 2025 and delegated authority to the Executive Committee.
The Board also approved increase in the value of the Guarantee support on behalf of Fasttel Engenharia S.A. (Fasttel), step-down wholly owned subsidiary of the Company, from USD 25 Million to USD 45 Million, to be issued in one or more tranches from time to time in favour of one or more lenders of Fasttel, to be valid for a period not beyond September 30, 2029 and delegated authority to the Executive Committee.
Further, the Board also approved additional funding support upto USD 10 Million, in one or more tranches from time to time, by way of granting loan and / or making equity investment in Kalpataru Power DO Brasil Participacoes Ltda., wholly owned subsidiary for further investment in Fasttel Engenharia S.A., step-down wholly owned subsidiary of the Company and delegated authority to the Executive Committee.
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