1:2 Bonus Shares By Power Stock: January 03, 2025 Record Date; Time To Unlock Wealth?

With a market valuation of Rs 10,512.65 Cr, KPI Green Energy Ltd. is a mid-cap company in the power generation industry. The stock surged 68.52% year-to-date and concluded Friday's trading session on the BSE at Rs 800.90, up 4.92%. KPI Green Energy Limited is the KP Group's solar and hybrid division. Located in Gujarat, it is a well-known solar and hybrid power generation enterprise. Founded in February 2008, the company deals in supplying solar and hybrid power through several business sectors. Under the "Solarism" brand, the company designs, constructs, owns, runs, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs).

KPI Green Energy Bonus Shares

"Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant provisions of the Companies Act, 2013 and Rules made thereunder, the Company has fixed Friday, January 03, 2025, as the 'Record Date' for determining the eligibility of Shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Shares of Rs. 5/- (Rupees Five only) each for every 2 (Two) existing Equity Share of Rs. 5/- (Rupees Five only) each, subject to the approval of Shareholders which is being obtained through Postal Ballot," said KPI Green Energy in a stock exchange filing.

The estimated date by which such bonus shares would be credited/dispatched is on or before January 14, 2025 according to the company.

KPI Green Energy News

KPI Green Energy Limited earlier announced on December 2, 2024, that it has received its largest-ever order from Coal India Limited for the installation of a 300 MWAC (405 MWDC) ground-mounted solar PV plant, including complete operation and maintenance (O&M) services for a term of five years. This is the largest order that the whole Central PSU team has ever placed. In accordance with the tender timelines, the 300 MWAC (405 MWDC) ground-mounted solar PV project will be carried out at GIPCL's Solar Park in Khavda, Gujarat, with O&M for five years and a contract price of Rs. 13.11 billion. It will be completed on an EPC (Engineering, Procurement, and Construction) basis.

Meanwhile, KPI Green Energy Limited and the Government of Rajasthan signed a Memorandum of Understanding (MoU) on December 19 to build hybrid, solar, and wind power projects in Jaisalmer (Ramgarh), Rajasthan. The Government of Rajasthan will assist the organisation or company in obtaining the required clearances, approvals, etc. from the relevant state agencies in accordance with the state government's current policies, rules, and regulations.

KPI Green Energy Share Price Target

"KPI Green Energy stock price is bullish on the Daily charts with strong support at 764. A Daily close above the resistance of 848 could lead to a target of 918 in the near term," commented A R Ramachandran, Independent Research Analyst.

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