Shares of KPI Green Energy Ltd surged 4% on Monday, 18 November, after the company said that its board had considered issuing bonus equity shares in the proportion of 1:2. 

In its quarterly earnings, the company said that the Board of Directors of the company have considered and recommended the issue of bonus equity shares in the proportion of 1:2, wherein the company will issue one bonus share for every two existing shares held by the shareholders. 

However, the bonus issue is subject to the approval of the shareholders. 

In an exchange filing, KPI Green said, “We wish to inform you that the meeting of the Board of Directors of the Company held today i.e. 14 November 2024 at the registered office of the Company, wherein Board of Directors, inter alia, has considered and recommended issue of Bonus Equity Shares in the proportion of 1:2 i.e. 1 bonus equity share of Rs. 5 each for every 2 existing equity share of Rs 5 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.”

A bonus share is a free additional share of the company that is allotted to its existing shareholders. 

Founded in 2008, KPI Green Energy Ltd, a subsidiary of the KP Group, focuses on renewable energy, managing the entire lifecycle of solar and wind-solar hybrid power projects. Operating as both an Independent Power Producer (IPP) and a service provider for Captive Power Producers (CPPs) under its ‘Solarism’ brand, the company provides services including the development, construction, ownership, management, and maintenance of renewable energy facilities.

At 12:23 pm, the shares of KPI Green were trading 4.12% higher at Rs 782 on NSE. 

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