KPI Green Energy has obtained Rs 6.86 billion credit facility to develop a 200 MW solar photovoltaic project in Khavda, Kutch District. The company secured the credit facility after recently raising Rs 3 billion through a qualified institutional placement. The company’s board had authorised the issuance and allotted Rs 2.54 million equity shares to qualified institutional buyers at an issue price of Rs 1,183 per share, compared to floor price of Rs 1,245. Out of Rs 3 billion, Rs 2.25 billion has already been allocated to fund the project.
In June 2024, KPI Green Engineering Limited secured orders worth Rs 3.51 billion from various clients for a range of projects, including building crash barriers for railway track fencing, solar projects, and electricity transmission line towers.