Kalpataru Power-JMC Projects merger gets NCLT nod

The National Company Law Tribunal has approved the merger of JMC Projects (India) Ltd with Kalpataru Power Transmission Ltd, making KPTL one of the largest publicly traded engineering and construction companies in the country.

The combined entity will have a significant presence in India and projects in 67 countries, with offerings in diversified areas of energy transmission and distribution, buildings and manufacturing, water, rail, oil and gas and heavy civil infrastructure. “The Ahmedabad Bench of National Company Law Tribunal today approved the amalgamation plan of JMC Projects (India) Ltd (JMC) with KPTL, leading to the creation of one of India's major listed diversified engineering and construction companies, with a combined order visibility of nearly Rs 43,000 crore,” a company statement said.

The board of directors of KPTL and JMC approved the merger plan in February 2022. Under the plan, JMC shareholders (except KPTL) will be allocated one share of KPTL for every four shares held in JMC.

KPTL Chairman Mofatraj Munot said: “The merger of JMC with KPTL is a strategic highlight and the beginning of a new era for both companies. The merger gives us greater scale, a diversified business mix, greater competitiveness, a strong financial profile and broader geographic coverage.”