Gujarat-headquartered renewable power generating company KPI Green Energy’s shares spurted on Thursday, December 28, after the company announced the successful commissioning of solar projects amounting to 17.35 MWp along with its wholly-owned subsidiary, KPIG Energia. The stock of KPI Green Energy (KPIGREEN ) jumped by as much as Rs 120.9, or 9.4 per cent, to Rs 1,402.1 apiece on BSE, coming within Rs 12 of an all-time high scaled this month.  

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

“These projects were executed on behalf of esteemed clients, namely, Jay Metal Tech, Reenam Fabrics Pvt. Ltd., JPB Fibers, and Creative Technologies, as part of our 'Captive Power Producer (CPP)' business segment. Furthermore, the approvals from the Chief Electrical Inspector (CEIG) has been received in the names of the respective clients,” KPI Green said in a regulatory filing post-market hours on Wednesday. 

In a separate filing, the renewable energy company said its board will meet on December 30 for considering a proposal to issue bonus shares to eligible shareholders, among other matters.  

The KPI Green board will consider the following particulars in its upcoming meeting:  

Consider and approve increase in authorised share capital of the company inter alia to accommodate issue of bonus equity shares, if any  

Consider and approve the appointment of Amitkumar Subhashchandra Khandelwal as Non-Executive Non-Independent Director  

Consider and approve the appointment of Dr Tejpalsingh Jagatsingh Bisht as Non-Executive Independent Director  

 Any other matter with the permission of the Chairman  

At noon, KPI Green shares held on firmly to the green with a gain of 4.2 per cent at Rs 1,334.7 apiece.  

On December 18, the company launched a qualified institutional placement (QIP) with the floor price of Rs 1,245 per share.  

ALSO READ: What are QIPs? Are they meant for retail investors