New Delhi, Dec 18 (PTI) Kalpataru Projects International (KPIL) on Wednesday said it has raised Rs 1,000 crore through the issuance of equity shares on a QIP basis.

This marks KPIL's first equity raise in over a decade, the company said in a statement.

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The KPIL, a diversified Engineering, Procurement and Construction (EPC) company with over four decades of experience, has successfully raised Rs 1,000 crore through a Qualified Institutional Placement (QIP).

The QIP witnessed an overwhelming response from a diverse group of investors, including domestic mutual funds, foreign investment funds and insurance companies.

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Manish Mohnot, MD & CEO, KPIL, said, "The overwhelming response to our QIP reflects the unwavering confidence of investors in KPIL's diversified business profile... The funds raised through QIP will further strengthen our balance sheet, enhance our financial flexibility and accelerate our growth plans."

KPIL is one of the largest specialised EPC companies engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways and Airports.

KPIL is currently executing projects in over 30 countries and has a global footprint in 75 countries.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)