Kalpataru Projects International Completes Acquisition, Becomes Wholly Owned Parent of KSA Entity
Kalpataru Projects International Limited (KPIL) has reported the completion of its acquisition of a controlling stake in Kalpataru IBN Omairah Company Limited (KIOCL), solidifying KIOCL's status as a wholly owned subsidiary. The acquisition successfully increased KPIL's shareholding in KIOCL to 100%.The transaction followed an initial announcement regarding the entry into a Share Sale, Exit, and Release Agreement. On February 23, 2026, KPIL entered into the agreement in the Kingdom of Saudi Arabia to acquire the balance 35% equity stake of KIOCL from the joint venture partner, BIN Omairah Contracting Company Limited.
KPIL provided details of the target entity, KIOCL, which is an EPC Company specializing in Power Transmission, Distribution and Substation works. The company was incorporated on June 1, 2015, in Saudi Arabia and is involved in executing various projects in High Voltage Transmission line and Sub-Station works within the country.
Subsidiary Status and Acquisition Details
KPIL confirmed that subsequent requisite approvals from the Saudi Business Centre and other authorities in the Kingdom of Saudi Arabia were completed on April 26, 2026. This completion resulted in Kalpataru Projects Arabia Company (previously KIOCL) becoming a wholly owned subsidiary of KPIL effective from April 14, 2026.Details regarding the acquisition include:
- Shares Acquired: 175 equity shares, representing a 35% equity stake in KIOCL.
- Cost of Acquisition: SAR 10 Million.
- Consideration: Cash, paid through banking channels.
The acquisition is expected to strengthen the company's operational presence in the Kingdom of Saudi Arabia market.
Financial Overview of KIOCL
KPIL provided an overview of KIOCL's financial standing for the last three years.| Year | Approx. Turnover (SAR Million) | Approx. Turnover (USD Million)* |
|---|---|---|
| FY 25 | 90.79 | 24.21 |
| FY 24 | 268.25 | 71.53 |
| FY 23 | 46.13 | 12.3 |
Note: The financial figures for KIOCL for the fiscal year ended 31-03-2025 show a Profit/(Loss) after Tax of approximately SAR (22.96) Million and a Net worth of approximately SAR (53.94) Million.
KPIL Stock Price Movement
Today, Kalpataru Projects International Limited shares edged higher to close at ₹1261.6, securing a gain of 1.46% on the listing. The stock settled today on a volume of 68,526 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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