KPI Green Energy, a notable performer in the stock market, called a board meeting on May 3 to discuss a potential stock split. The company’s shares have soared by 421% over the past year, prompting considerations for splitting the current face value of Rs 10 shares.
The board of KPI Green Energy has recently given the green light to raise funds through qualified institutional placements (QIP). This decision comes as part of their strategy to finance ongoing and future projects, enhancing their financial flexibility.
In a strategic move to bolster its capital, KPI Green Energy plans to issue equity shares or equity-linked securities. This fundraising effort aims to gather up to Rs 1,000 crore in one or more tranches, adhering to prevailing legal standards and requiring subsequent approvals.
The company’s financial health has shown significant improvement, with a 35.4% increase in consolidated net profit, amounting to Rs 43 crore for the March quarter. This financial uptick underscores KPI Green Energy’s robust operational performance.
Additionally, KPI Green Energy reported a substantial 58.6% increase in sales, reaching Rs 289.40 crore. This growth reflects the company’s strong market presence and operational efficiency, contributing to its multibagger stock status.
