Kalpataru power plans to divest non-core assets to fuel growth
MUMBAI: Kalpataru Power Transmission (KPTL) plans to divest noncore assets to focus on its core engineering business and participate in more power transmission projects that will come up via the ‘Public-Private Partnership’ route.
The company plans to monetise its real estate asset in Indore, is looking for a strategic investor for arm Shree Shubham Logistics, and is in talks to sell road projects held by another arm JMC Projects, Manish Mohnot, managing director and chief executive officer of KPTL said. As a part of this strategy, the company has signed a pact with CLP India to sell three power transmission projects for an enterprise value of Rs 3,275 crore, the company announced on Wednesday.
