Kalpataru Projects International Limited has informed the Exchange about update on Acquisition
KPIL · price
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Kalpataru Projects International Limited (KPIL) has completed the acquisition of the remaining 35% equity stake in its Saudi Arabian entity, Kalpataru Projects Arabia Company (formerly Kalpataru IBN Omairah Company Limited or KIOCL), for SAR 10 Million in cash. This increases KPIL's holding from 65% to 100%, making the entity a wholly owned subsidiary effective 14th April 2026. Regulatory approvals from the Saudi Business Centre and other authorities were completed on 26th April 2026, with the intimation received on 27th April 2026. KIOCL is an EPC company engaged in power transmission, distribution and substation works, with FY25 turnover of approximately USD 24.21 Million but a loss after tax of USD 6.12 Million and negative net worth of USD 14.38 Million.
This is a strategic consolidation of KPIL's Saudi operations, giving it full control and 100% economic interest in the subsidiary. While the subsidiary is currently loss-making with negative net worth, full ownership allows KPIL to streamline decision-making and strengthen its Middle East presence. The deal is small in cost (about ₹22-23 crore equivalent) and unlikely to materially move the stock, but signals management's commitment to international expansion.