Upcoming Stock Split: Power Stock To Approve Subdivision/Split of Shares Soon; Do You Own?

KPI Green Energy Ltd a small cap company in the power sector is in focus as it is going to release its upcoming stock split soon. The stock opened higher on the BSE at Rs 1954 apiece on Monday and reached to a 5% upper circuit limit at Rs 1963.95 during the afternoon deals after the company announced that its Board of Directors will meet on Thursday, May 23, 2024 to consider and approve the stock split proposal.

"Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ('Listing Regulation'), this is to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, May 23, 2024, inter-alia: 1. To consider and approve the proposal for alteration in the capital of the Company by subdivision/split of existing equity shares of the Company having a face value of Rs. 10/- each, fully paid up. 2. Any other matter with the permission of the Chair," said KPI Green Energy in a regulatory filing.

"Further, as per the Company's Code of Conduct to regulate, monitor and report, trading by Insiders and pursuant to Securities and Exchange Board of India (Prohibition of Insider Trading) Regulation, 2015, the Trading Window for dealing in securities of the Company will be closed for all the Directors / officers / Designated Persons ('insiders') from May 3, 2024 to May 25, 204 (both days inclusive) for considering the proposal for alteration in the capital of the Company by sub-division/split of existing equity shares," the company informed to the stock exchanges on 3rd May.

A meeting of the Board of Directors of the company is scheduled to be held on Monday, May 13, 2024, "To consider a proposal for obtaining an enabling resolution from the shareholders for fund raising by the Company, by way of inter alia, issue of equity shares or any other equity linked instruments or securities including convertible preference shares and warrants entitling the warrant holder(s) to apply for equity shares, or any other eligible securities through inter alia, a Private Placement or through one or more Qualified Institutions Placements (QIP's) or further public issue of Equity or through any other permissible mode and/or combination thereof as may be considered appropriate subject to such approvals as may be required including the approval of the members at general meetings or through postal ballot and further subject to such other Statutory /Regulatory/Lender's approval as applicable," said KPI Green Energy in a stock exchange filing on May 6, 2024.

KP Group's solar and hybrid business segment is KPI Green Energy Limited (formerly known as KPI Global Infrastructure Limited). It's a well-known solar and hybrid power-generating corporation with headquarters in Gujarat. Under the brand name "Solarism," the company designs, constructs, owns, runs, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs).

The power stock reached a 52-week-high level at Rs 2,109.25 on (25/04/2024) and a 52-week-low level at Rs 312.86 on (09/05/2023).