KPI Green Energy Limited announced a significant move following the approval of the board of directors and shareholders. In a meeting held on December 18, the board of the company authorized the commencement of the Qualified Institutional Placement (QIP) on the same day. The floor price for the QIP is set at ₹1245.00 per Equity Share, as approved in accordance with the pricing formula under regulation 176 of the SEBI ICDR Regulations.
Additionally, the board gave the green light for the adoption of the preliminary placement document, dated December 18, 2023, and the accompanying application form linked to the QIP. The company holds the discretion to offer a discount of up to 5% on the calculated floor price for the QIP.
To facilitate the QIP process, the company plans to file the preliminary placement document with the stock exchanges, marking a significant step in its financial strategy.
KPI Green Energy Limited, previously identified as KPI Global Infrastructure Limited, represents the solar and hybrid arm of the KP Group, a leading solar and hybrid power generation company based in Gujarat, India. Established in February 2008, the company is dedicated to delivering solar and hybrid power solutions across various business sectors.
