KPI Green Subsidiary Secures New 5.6 MW Solar Power Project Contract, Stock Up

20 Jan 2024 , 10:30 AM

Shares of KPI Green Energy increased by 0.8% to Rs 1,435.25 following the company’s subsidiary’s acquisition of a new contract to carry out a solar power project.

‘…. informed that new order of 5.60 MW for executing solar power project have been received by M/s. KPIG Energia Private Limited, a wholly owned subsidiary under Captive Power Producer (CPP) segment,’ the business stated in a press release.

According to the terms of the contract, which was obtained from Shree Varudi Paper Mill LLP, the order is expected to be fulfilled in several tranches over the 2024–2025 fiscal year.

In order to ascertain which shareholders are eligible to receive bonus equity shares from the company, the company set Thursday, February 15, 2024, as the ‘Record Date.’ These shares would be issued at a ratio of one equity share worth Rs. 10 for every two equity shares now in circulation.

The aforementioned subsidiary won a contract for a 3-megawatt solar power project from Jayco Synthetics earlier in January 2024, in addition to receiving a new order for 2 MW to be executed as part of the company’s CPP division.

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