Kalpataru Limited has informed the Exchange about dispatch of postal ballot notice to the shareholders of the Company
KALPATARU · price
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Kalpataru Limited has dispatched a postal ballot notice (dated December 31, 2025) to its shareholders, seeking their approval via electronic voting (e-voting through NSDL) on four material related party transactions. Key resolutions include: (1) Corporate guarantees up to ₹390 crore and ₹210 crore to be extended to ICICI Bank for a ₹600 crore term loan facility sanctioned to its subsidiaries Agile Real Estate Dev Pvt Ltd (AREDPL) and Kalpataru Properties (Thane) Pvt Ltd (KPTPL); (2) Inter-corporate deposits to AREDPL; (3) Transactions with promoter group entities and Mr. Parag M. Munot; and (4) Transactions with Agile Real Estate Pvt Ltd. The new ICICI term loan at 10.50% interest is being used to refinance existing high-cost non-convertible debentures (NCDs) held by HDFC Capital Affordable Real Estate Fund at 16.5% IRR, with ₹330 crore of AREDPL's NCDs already redeemed out of ₹570 crore outstanding. The projects (Kalpataru Primera and Kalpataru Estella) span ~4.1 million sq ft in Thane. E-voting window is from January 3, 2026 to February 1, 2026, with results expected by February 3, 2026. Cut-off date for eligibility is December 26, 2025.
This is a procedural corporate action requiring shareholder approval for refinancing arrangements that should lower the group's borrowing costs significantly (from 16.5% to 10.50%) and improve cash flow alignment for ongoing projects. Shareholders on the record as of December 26, 2025 must cast votes through NSDL's e-voting platform before February 1, 2026 to approve these material related party transactions.