1:2 Bonus, 1st Ever Split Soon; Green Energy Stock Hits Upper Circuit; Fundraising Plan Of Rs 1,000 Cr Ahead

Powerpack renewable energy company, KPI Green's share price touched a 5% upper circuit on Tuesday after the company announced its fundraising plan of Rs 1,000 crore via various market related instruments. The fundraising will be carried in tranches. This green energy company is also planning to split for the first time and will announce details next week. This comes after KPI delivered a 1:2 bonus issue.

KPI Green Energy Share Price:

On May 14th, the stock ended at Rs 1879.65 apiece, at its 5% upper circuit with a market cap of Rs 11,331.02 crore. The stock's 52-week high and low is at Rs 2,109.25 apiece and Rs 320.83 apiece.

YTD, KPI Green is up by 97%, while in a year, the stock rallied by a whopping 478.18%.

KPI Green Energy Fundraising:

On May 13, in a board meeting, KPI Green announced fundraising through the issuance of equity shares of the Company ('Equity Shares') or any other equity-linked securities of the Company or other securities convertible into or exchangeable for Equity Shares by way of qualified institutions placement (including one or more qualified institutional placements in tranches) ('QIP').

The fundraising will be carried out in tranches for an aggregate amount of Rs 1,000 crore.

Earlier, in Q3FY24, KPI Green made a big achievement was raising Rs 300 Cr through a Qualified Institutional Placement (QIP) by issuing shares to Qualified Institutional Buyers (QIBs), marking a major milestone in its journey. The QIP was oversubscribed three times within hours of opening, reflecting the overall trust of large institutional investors in KP Group and its growth prospects. SBI Capital Markets was the book-running lead manager (BRLM).

KPI Green Energy Stock Split:

Going ahead, another big factor for KPI Green stock will be the announcement of its first-ever stock sub-division.

KPI Green's board is also scheduled to meet on May 23 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.

KPI Green Energy Bonus Issue:

Earlier in February, the company delivered a 1:2 bonus issue. The company allotted 2,00,94,203 equity shares having a face value of Rs.10/- each as bonus equity shares, in the ratio of One (1) equity share having a face value of Rs. 10/- each for every Two (2) existing equity share having face value of Rs. 10/- each.

Consequently, KPI Green said, the paid-up equity share capital of the Company has increased from Rs. 40,18,84,050/-comprising 4,01,88,405 (Four Crores One Lakh Eighty-Eight Thousand Four Hundred and Five) Equity Shares of Rs. 10/- each to Rs. 60,28,26,080, comprising 6,02,82,608/- equity shares of Rs. 10/- each.

KPI Green Energy Limited (Formerly known as K.P.I. Global Infrastructure Limited), is the Renewable vertical of KP Group and a prominent Gujarat-based Renewable power generating company. Incorporated in February 2008, focused on providing Renewable power through different Business verticals.

The company develops, builds, owns, operates and maintains Renewable power plants through as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name 'Solarism'.

Its Renewable Power business is focused on Providing Renewable power solutions that reduce Electricity costs and Providing Commercial solutions like CPP, IPP, and Industrial Plot Selling via Solar & Hybrid Energy.