KPI Green authorizes the Rs 1,245 floor pricing for QIP
The share price of KPI Green has increased by almost 200% so far this year.
The floor price for KPI Green Energy's qualified institutional placement (QIP) was declared at Rs 1,245 per share on December 18.
Additionally, the business has said that it would launch the issue on December 18, per the regulatory filing.
The business had disclosed its intention to use QIP to raise money in one or more tranches at its September board meeting.
The business also said in the regulatory filing that it is unable to provide a reduction to the floor price for QIP of more than 5%.
The company's Captive Power Producer (CPP) section includes solar projects totaling more than 148 MW. It is anticipated that the improvements would be finished in stages between 2024 and 2025.
The company's shares finished 3.67 percent higher at Rs 1,371.5 on the NSE on December 18. In the current year, the stock has increased by almost three times.
DIIs have not made any significant investments in the firm despite the spike in the stock price. However, from 2.5 percent in December 2022 to 4.63 percent in December 2023, FIIs have expanded their ownership.
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