KPI Green Energy, a prominent Gujarat-based renewable power company, has announced a bonus issue, offering 1 free bonus share for every 2 existing shares held by its shareholders. The company’s board approved this bonus issue on November 14, 2024, with a total value of ₹32.815 crore. This will result in the issuance of 6,56,30,202 new equity shares, each with a face value of ₹5.
This bonus issue is the second one in 2024 for KPI Green. The company had previously announced a 1:2 bonus issue earlier in February 2024. Additionally, in July 2024, KPI Green executed a 1:2 stock split.
KPI Green Energy has also declared an interim dividend of ₹0.20 per share for FY25, with the ex-dividend date on November 14, 2024.
As of November 14, 2024, the company’s stock closed at ₹750.90, up by 0.23% on the BSE. The stock has gained nearly 58% year-to-date, with its 52-week high and low being ₹1,116 and ₹343.87, respectively.
The bonus shares will be credited to eligible shareholders by January 14, 2025, and investors need to ensure they hold the shares in their demat accounts by the record date, which will be announced later. This bonus issue follows the company’s focus on renewable energy through its various verticals, offering renewable power solutions to reduce electricity costs for businesses and customers.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Please research or consult a professional financial advisor before making any investment decisions.
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