KPI Green Energy Board Approves ₹475 Crore Preferential Issue

17 Dec 2025 , 02:48 PM

KPI Green Energy Ltd on Wednesday, December 17, said its board has approved a fund raise through a preferential issue of equity warrants. The company said the board has cleared the creation, offer, issuance, and allotment of up to 1.01 crore fully convertible equity warrants at an issue price of ₹470.3 each, with a face value of ₹5 per warrant. The proposed fund raise is expected to aggregate to about ₹475 crore.

The warrants will be allotted to Quoyosh Energia Pvt Ltd, an entity belonging to the promoter group category. Upon full conversion of the warrants issued under the preferential issue, Quoyosh Energia is expected to hold a 4.87 percent stake in KPI Green Energy, the company said.

The preferential issue is subject to shareholder approval. The board has fixed January 9, 2026, as the cut-off date for determining shareholders eligible to participate in the e-voting process. The e-voting window through CDSL will open at 9 am on January 13, 2026, and close at 5 pm on January 15, 2026.

Separately, earlier this month, KPI Green Energy secured an order worth ₹489.17 crore from Gujarat State Electricity Corporation Ltd. The contract involves the execution of a 142 MW DC or 110 MW AC floating solar power project at the Kadana Dam reservoir in Gujarat.

The project is scheduled to be completed over an 18-month period and includes a 10-year operations and maintenance component. The company said the order strengthens its position across ground-mounted, rooftop, and floating solar segments, supporting its long-term growth strategy.

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