KPI Green Energy, the power generating company, is back with yet another bonus issue reward in 2024. Once again, KPI is going to reward investors with 1 free bonus share on the existing two shares. The announcement was made on November 14, 2024. The stock ended in the green on Thursday. KPI will be in focus next week.
KPI Green Energy Bonus Issue:
As per the filing, KPI Green announced Bonus Equity Shares in the proportion of 1:2 i.e. 1 (One) bonus equity share of Rs. 5/- (Rupees Five) each for every 2 (Two) existing equity shares of Rs. 5/- (Rupees Five) each fully paid up, held by the shareholders of the Company as on the record date, subject to the approval of shareholders through Postal Ballot.
The company has received approval for the same from the board of directors in a meeting held on November 14, 2024. The company will issue Rs 32.815 crore worth of bonus issue, which will be divided into 6,56,30,202 equity shares having a face value of Rs 5 each.
As on March 31, 2024, the following balances are available on a Standalone basis: Securities premium account: Rs. 427.60 Crore, and Retained Earnings: Rs. 260.37 Crore.
Subject to obtaining Shareholders' approval and other Statutory/Regulatory approvals, as may be necessary, the Bonus shares shall be credited/ dispatched within 2 months from the date of the Board approval i.e. on or before January 14, 2025, as per the filing.
The record date for the bonus issue will be announced accordingly. To be eligible for KPI's upcoming bonus reward, investors should hold the company's stocks in their demat accounts by end of record date.
Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.
The upcoming bonus issue will be the second in 2024 by KPI Green. The last bonus issue was of 1:2 and for this KPI turned ex-date on February 15, 2024.
Apart from the bonus issue, KPI stock has also split by a 1:2 ratio and the ex-date was on July 18, 2024.
KPI Green Energy Dividend:
Notably, on November 14, the company turned ex-dividend for its interim dividend to the tune of Rs 0.20 per share for FY25. Earlier in 2024, the company already had two dividends of Rs 0.20 each and its ex-dates were on August 21 and October 4.
KPI Green Energy Share Price:
After market hours of November 14, KPI Green share price closed at Rs 750.90 apiece, marginally up by 0.23% on BSE, with a market cap of Rs 9,856.34 crore. The stock's 52-week high and low are at Rs 1,116 apiece and Rs 343.87 apiece respectively.
YTD, the stock zoomed by nearly 58%.
About KPI Green Energy:
KPI Green Energy Limited is the Renewable vertical of KP Group and a prominent Gujarat-based Renewable power generating company. Incorporated in February 2008, focused on providing Renewable power through different Business verticals. The Company develops, builds, owns, operates and maintains Renewable power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name 'Solarism'.
KPI's Renewable Power business is focused on Providing Renewable power solutions that reduce Electricity costs, and Providing Commercial solutions like CPP, IPP, Industrial Plot Selling via Solar & Hybrid Energy, as per the website.
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