The National Company Law Tribunal has approved the merger of Kalpataru Power Transmission Ltd with JMC Projects (India) Ltd, which is set to make it the Largest Listed Engineering and construction company in India. 

Kalpataru Power Transmission Limited is one of the largest specialized EPC companies engaged in power transmission & distribution, oil & gas pipeline, railways, and civil infrastructure business. It is currently executing projects in over 30 countries and has a global footprint in 67 countries. 

JMC Projects (India) Limited, a subsidiary of Kalpataru Power Transmission Limited, is one of the leading civil construction and infrastructure EPC Companies in India and a market leader in Urban Infrastructure and Heavy market leader in the verticals of Buildings & Factories (B&F), Water, Civil. 

The diversified combined entity will have a presence in power transmission & distribution, buildings & factories, water, railways, oil & gas, and heavy civil infrastructure with a combined order visibility of nearly Rs.43,000 crores. 

“The merger of JMC with KPTL is a strategic culmination and the start of a new era for both companies. The merger provides us with greater scale, diversified business mix, increased competitiveness, strong financial profile, and wider geographic coverage.” Mr. Mofatraj Munot, the Chairman of KPTL said. 

As per the scheme, JMC Projects’ shareholders (other than KPTL) will be allotted one share of Kalpataru Power Transmission Limited for every four shares held by them in JMC. 

On Friday, the shares of Kalpataru Power Transmission were trading 4 percent lower at Rs 505 levels while the shares of JMC Projects (India) Limited slipped by 2.5 percent to trade at Rs 124 levels. 

Written by Anoushka Roy

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