KPIL takes full control of Saudi EPC unit with 35% buyout

Kalpataru Projects International Limited (KPIL) has completed the acquisition of the remaining 35% equity stake in its Saudi Arabian joint venture, Kalpataru Projects Arabia Company (formerly Kalpataru IBN Omairah Company Limited), making it a wholly owned subsidiary. The company informed stock exchanges that the transaction follows receipt of all required approvals in Saudi Arabia.

KPIL stated that approvals from the Saudi Business Centre and other authorities in the Kingdom of Saudi Arabia were obtained on April 26, 2026. The acquisition has been made effective from April 14, 2026.

The company had earlier notified exchanges on February 24, 2026, regarding its Share Sale, Exit, and Release Agreement with BIN Omairah Contracting Company Limited to acquire the remaining stake. The deal was executed for a cash consideration of Saudi Arabian Riyal (SAR) 10 million through banking channels. KPIL clarified that the transaction was conducted on an arm’s length basis and does not qualify as a related-party transaction.

The acquired entity, incorporated on June 1, 2015, operates in the power transmission, distribution, and substation engineering, procurement, and construction (EPC) segment, aligned with KPIL’s core business. For the financial year ended March 31, 2025, it reported a turnover of approximately SAR 90.79 million (~USD 24.21 million).

The company stated that the acquisition is expected to strengthen its presence in the Kingdom of Saudi Arabia market.

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