KPI Green Energy Limited announced that it has raised Rs 3 billion through qualified institutional placement (QIP) route. With a floor price of Rs 1,245 and an issue price of 1,183 per equity share, the company’s board of directors authorized the issuance and allocation of 2.54 million equity shares to eligible institutional buyers. After the allocation, the paid-up equity share capital of the company increased to Rs 401.88 million, (40.19 million equity shares each), from Rs 376.52 million. The company did not reveal the details of how the funds would be employed.
In November 2023, KPI Green Energy Limited received a letter of award from Aditya Birla Renewable Energy Limited for a 22.26 MWp solar power project. To be located in Gujarat, the project falls under the company’s captive power producer business segment.
In August 2023, KPI Green Energy Limited emerged as a winner for grid-connected solar PV project of 200 MW (AC) in Gujarat. The project is a part of 800 MW tender issued by Gujarat Urja Vikas Nigam Limited to be developed at Gujarat State Electricity Corporation Limited’s Khavda solar park, stage 2.
