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KPI Green Energy Ltd. had earlier carried out a bonus issue in 2024 and 2023.
Opening higher at Rs 839.90 apiece on the NSE on Thursday, shares of KPI Green Energy Ltd. rose over 2.5% to touch an intraday high of Rs 849.9.
Shares of KPI Green Energy Ltd. are expected to remain in focus on Thursday with a record date for the company’s bonus issue set on Friday. The key player in India’s renewable energy sector had earlier announced the issuance of bonus equity shares in a 1:2 ratio, offering 1 equity share at Rs 5 apiece for every existing 2 shares. The record date for this bonus issue was set for January 3.
The record date determines the eligibility of shareholders for the bonus issue. Those who own shares by this date receive the bonus shares.
The company’s board initially recommended the bonus issue on November 14, with the shares expected to be dispatched within two months from that date, by no later than January 14, 2025.
The bonus shares were proposed to be issued from the company’s securities premium account as of March 31, 2024.
KPI Green Energy Ltd. had earlier carried out a bonus issue in 2024 and 2023.
In 2024, the company issued bonus shares at a ratio of 1:2, meaning shareholders received one bonus share for every two shares they already owned. This followed a similar bonus share issuance in 2023, where the company had distributed shares at a 1:1 ratio, granting shareholders one bonus share for each share held.
KPI Green Energy Limited is a solar power generation company engaged in the development, ownership, operation, and maintenance of solar power plants.
Opening higher at Rs 839.90 apiece on the NSE on Thursday, shares of KPI Green Energy Ltd. rose over 2.5% to touch an intraday high of Rs 849.9.
Shares of KPI Green Energy have delivered stellar returns to its investors since making their debut on the National Stock Exchange in April 2022. The stock has jumped over 850% since it started trading on the NSE. In the short run, the stock has moved up by 80% in the past year and nearly 9% in one month. Over a six-month period, shares of KPI Green Energy, however, have slipped over 4%.
Apart from KPI Green Energy, shares of Redtape, Inertia Steel, Ceenik Exports (India), and Garware Technical Fibres will also trade ex-date on January 3.