KPI Green Energy to consider bonus proposal on November 14

11 Nov 2024 , 03:03 PM

KPI Green Energy Ltd. has announced that its board of directors will meet on November 14 to consider a bonus share issue. This is the second time this year that the business will explore a proposal to issue bonus shares in 2024.

Earlier this year, the corporation announced the issuance of one bonus share for every two shares owned by shareholders.

In 2023, the business released one free share for each share held by stockholders.

Earlier this year, KPI Green split one equity share with a face value of ₹10 into two shares with a face value of ₹5, in addition to issuing bonus shares.

The board will also discuss expanding the company’s approved share capital during its meeting on November 14.

The record date for the bonus issue, if one exists, has yet to be resolved.

A bonus issue, also known as a bonus share issue, occurs when a firm uses accrued reserves or earnings to issue more shares to current owners.

Companies issue bonus shares largely to make their stock more accessible to regular investors, especially when the share price has risen dramatically. 

At around 2.51 PM, KPI Green Energy was trading 4.61% lower at ₹755.10, against the previous close of ₹791.60 on NSE. The counter touched an intraday high and low of ₹790.50, and ₹752.05, respectively.

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