iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

KPI Green Energy Hits 52-Week High as Subsidiary Bags 2 MW Solar Project Order

12 Jan 2024 , 03:13 PM

KPI Green Energy’s shares surged over 3% to reach a fresh 52-week high following an order received by its subsidiary, KPIG Energia Pvt Ltd, for 2 MW solar power projects from Sanwariya Processors Pvt Ltd.

The order outlines the completion of the solar power projects in tranches by FY25, as per the terms specified by Sanwariya Processors.

KPI Green Energy operates as a solar power generating company, serving as an Independent Power Producer (IPP) under the Solarism brand and providing services to Captive Power Producer (CPP) customers.

The company recently declared a bonus issue of one share for every two held, with the record date yet to be determined. This marks the second instance of KPI Green issuing bonus shares, following a similar move in January 2023.

KPI Green Energy successfully raised Rs 300 crore through a Qualified Institutional Placement (QIP), with Societe Generale, BoFA Securities, Goldman Sachs, and Quant MF among the funds participating in the offering.

In October, the company announced plans to raise funds through a QIP for a Gujarat project worth Rs 900 crore, with a planned debt of Rs 550 crore, bringing the total borrowing to Rs 1,100 crore.

The solar portfolio of KPI Green stands at 356 MW, and the management anticipates a debt-to-equity ratio of 2:1.

For feedback and suggestions, write to us at editorial@iifl.com

 

 

Related Tags

  • KPI Green Energy
  • solar project
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.