KPI Green Energy bonus news: Share price surges ahead of bonus announcement

KPI Green Energy Bonus News, Share Price: Solar power generating company KPI Energy Ltd (NSE: KPIGREEN) shares surged more than 4 per cent on Wednesday, November 30, on account of the announcement of bonus shares. The company has announced that its board of directors will meet today to consider issuing bonus equity shares to the existing shareholders.

The stock opened at Rs 915.10 apiece on NSE and rallies more than 4 per cent to hit day's high of Rs 948. At 11:55 AM, the counter quoted Rs 933 apiece NSE and Rs 932.05 on BSE.

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KPI Green Energy Ltd in a regulatory filing announced that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, November 30, 2022 to consider issuance of bonus equity, approve and recommend appointment of Shanker Baheria as Non-Executive Independent Director of the company.

“We wish to inform you that, pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, November 30, 2022 at the Registered Office of the Company, inter a/ia, to transact the following matters: 1. To consider the proposal for issue of bonus equity shares to the shareholders of the Company. 2. To consider, approve and recommend appointment of Mr. Shanker Baheria (DIN: 09787133) as Non-Executive Independent Director of the Company. 3. Any other matter with the permission of the Chairman,” the filing read.

It further informed that the trading window for dealing in securities of the Company will be closed for all the Directors / officers I Designated Persons ('insiders') from November 24, 2022 to December 3, 2022 (both days inclusive) for consider the issue of bonus shares to the equity shareholders of the Company, if recommended.

Shares of KPI Green Energy in the past six months have yielded multibagger returns of around 105 per cent. YTD, the stock has surged by more than 75 per cent. The 52-week range of the stock is Rs 963.95 - Rs 231.75 apiece.

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