KPI Green Energy Ltd has announced to raise funds up to ₹1,000 crore through a Qualified Institutions Placement (QIP) route.In a filing to the stock exchanges, the solar power generation company said that its Board of Directors at the meeting held on May 13, 2024, approved a proposal to raise an amount aggregating to not more than ₹1,000 crore by way of a QIP, in either one or multiple tranches.The company has said that it will raise the aforementioned funds by issuing either equity shares or any other equity-linked instruments or securities.The type of issuance will be qualified institutions placement (QIP) in terms of Securities and Exchange Board of India Issue of Capital and Disclosure Requirements (SEBI ICDR) Regulations, the company informed the bourses.The total number of securities proposed to be issued through the said QIP will be determined after an issue price is decided, which will be at the time of issuance of securities.QIP is a fundraising mechanism used by listed companies in India in order to raise capital.
This is done by issuing securities to qualified institutional buyers (QIBs), while allowing such companies to issue equity shares, fully convertible debentures, or any securities aimed at raising funds.KPI Green Energy shares dropped as much as 5.09% to a low of ₹1,757.95 apiece on the BSE.
However, the renewable energy story recovered some early losses to trade 2.65% lower at ₹1,801.35 apiece on the BSE at 2:33 PM.KPI Green Energy shares have given extraordinary returns of 455% to its inventors in the past one year.Even on a short-term basis, the renewable energy company’s shares have gained 85% so far this year and nearly 45% in the last three months.
KPI Green Energy Ltd has announced to raise funds up to ₹1,000 crore through a Qualified Institutions Placement (QIP) route.In a filing to the stock exchanges, the solar power generation company said that its Board of Directors at the meeting held on May 13, 2024, approved a proposal to raise an amount aggregating to not more than ₹1,000 crore by way of a QIP, in either one or multiple tranches.The company has said that it will raise the aforementioned funds by issuing either equity shares or any other equity-linked instruments or securities.The type of issuance will be qualified institutions placement (QIP) in terms of Securities and Exchange Board of India Issue of Capital and Disclosure Requirements (SEBI ICDR) Regulations, the company informed the bourses.The total number of securities proposed to be issued through the said QIP will be determined after an issue price is decided, which will be at the time of issuance of securities.QIP is a fundraising mechanism used by listed companies in India in order to raise capital. This is done by issuing securities to qualified institutional buyers (QIBs), while allowing such companies to issue equity shares, fully convertible debentures, or any securities aimed at raising funds.KPI Green Energy shares dropped as much as 5.09% to a low of ₹1,757.95 apiece on the BSE. However, the renewable energy story recovered some early losses to trade 2.65% lower at ₹1,801.35 apiece on the BSE at 2:33 PM.KPI Green Energy shares have given extraordinary returns of 455% to its inventors in the past one year.Even on a short-term basis, the renewable energy company’s shares have gained 85% so far this year and nearly 45% in the last three months.
