TEEC, KPTL successfully complete transfer of 49% stake (23% by KPTL, 26% by TEEC) in KMTL to Apraava Energy Pvt Ltd

News: Kalpataru Power (KPTL) and Techno Electric (TEEC), a joint venture partner in Kohima-Mariani Transmission Asset (KMTL), have successfully completed transfer of 49% stake (23% by KPTL, 26% by TEEC) in KMTL to Apraava Energy Pvt Ltd (formally known as CLP India Pvt Ltd).

Views: The transfer of stake in KMTL along with earlier divestments of its T&D assets is in line with its strategy to to reduce debt and invest in future growth including expanding its international presence. We expect revenue to grow at CAGR of ~9.8% over FY21-23E owing to decent order book worth ~Rs.12397 crore.

Impact: Positive