KPI Green Energy, a power generating company, pulled back from its previous gains to end lower on Tuesday, November 19, 2024. Nonetheless, the stock is a multi-bagger with gains of nearly 10,400% in 5 years. This stock is going to be in focus ahead for its second bonus shares reward of 2024. KPI has also consistently rewarded dividends and carried 1 stock split in the current year.
KPI Green Energy Share Price:
After market hours of November 19, KPI Green shares ended at Rs 760 apiece, down by 2.12% on BSE. The stock price has touched a 52-week high and low of Rs 1,116 apiece and Rs 374.92 apiece respectively. The company's market cap is around Rs 9,975.79 crore.
KPI share has gained by nearly 60% YTD, and the upside is about 88% in a year. But in 5 years the stock has skyrocketed by a whopping 10,388.97% on BSE so far. 5 years ago, the stock was merely at Rs 7.25 on November 21, 2019.
KPI Green Energy Bonus Issue:
The green energy player has 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.
For the upcoming bonus, KPI will issue Rs 32.815 crore worth of shares, 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.
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.
Notably, last week, 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.
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'.
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