Kalind Ltd to raise Rs 627 cr to expand fleet, acquire machinery

Mumbai, Jul 24 (PTI) Infrastructure contracting and heavy equipment leasing platform Kalind Ltd looks to raise around Rs 627 crore (USD 65 million) to acquire next-generation machinery and expand fleet capacity, a statement said on Friday.

The company board has approved raising capital up to USD 65 million through permitted instruments, including equity shares, preferential issues, QIPs, convertible debentures, warrants, or FCCBs, Kalind Ltd said.

“The fresh capital will be utilised to acquire next-generation machinery, expand fleet capacity, and service growing multi-year rental contracts across India’s infrastructure corridors,” it said.

Shares of the company jumped nearly 5 per cent to hit the upper circuit limit at Rs 11.29 on BSE on Friday,

which was also the record date for its bonus issue and stock split issue.

The company has announced a 1:5 stock split and a 1:2 bonus issue, for which the record date to determine the shareholders’ eligibility was July 24, 2026.

The company asserted that the stock split and bonus issue “underscore strong shareholder value creation”. PTI IAS MR