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KPI Green Energy Ltd. on Wednesday, December 17, said its board has approved a fund raise via preferential issue.
The company said its board has approved to create, offer, issue and allot a preferential issue of up to 1.01 crore fully convertible equity warrants, with a face value of ₹5 against each warrant at an issue price of ₹470.3, aggregating to ₹475 crore to Quoyosh Energia Pvt Ltd., an entity belonging to the promoter group category.
Post the issue, Quyosh Energia will hold 4.87% stake in the company, assuming full conversion of warrants issued pursuant to the preferential issue, the company said.
The issue is subject to the approval of the company's shareholders. The board has set January 9, 2026 as the cut-off date for e-voting and the CDSL e-voting period will be from 9 am on January 13 to 5 pm on January 15, 2026.
On another note, earlier this month, KPI Green won an order worth ₹489.17 crore from Gujarat State Electricity Corporation Ltd (GSECL) to execute a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir in Gujarat.
The project, which will be executed over 18 months, also includes a 10-year operations and maintenance component. KPI Green said the contract strengthens its position across ground-mounted, rooftop and now floating solar segments.
Shares of KPI Green are currently little changed on Wednesday at ₹425. The stock is down 23% so far in 2025.
Also Read: L&T buildings and factories vertical wins multiple orders worth up to ₹5,000 crore
The company said its board has approved to create, offer, issue and allot a preferential issue of up to 1.01 crore fully convertible equity warrants, with a face value of ₹5 against each warrant at an issue price of ₹470.3, aggregating to ₹475 crore to Quoyosh Energia Pvt Ltd., an entity belonging to the promoter group category.
Post the issue, Quyosh Energia will hold 4.87% stake in the company, assuming full conversion of warrants issued pursuant to the preferential issue, the company said.
The issue is subject to the approval of the company's shareholders. The board has set January 9, 2026 as the cut-off date for e-voting and the CDSL e-voting period will be from 9 am on January 13 to 5 pm on January 15, 2026.
On another note, earlier this month, KPI Green won an order worth ₹489.17 crore from Gujarat State Electricity Corporation Ltd (GSECL) to execute a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir in Gujarat.
The project, which will be executed over 18 months, also includes a 10-year operations and maintenance component. KPI Green said the contract strengthens its position across ground-mounted, rooftop and now floating solar segments.
Shares of KPI Green are currently little changed on Wednesday at ₹425. The stock is down 23% so far in 2025.
Also Read: L&T buildings and factories vertical wins multiple orders worth up to ₹5,000 crore
