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KPI Green Energy Shares Surge on Signing MoU

Updated on: Dec 20, 2024, 7:51 PM IST
KPI Green Energy's share price surged, driven by a bonus issue record date set for January 3, 2025, and an MoU with the Rajasthan government for hybrid power projects.
KPI Green Energy Shares Surge on Signing MoU
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KPI Green Energy Limited has caught the market’s attention with its recent developments, leading to a significant surge in its share price. The stock hit a 5% upper circuit earlier on December 20, 2024, and is currently trading at ₹801, reflecting a 4.83% gain.

Record Date Set for Bonus Issue

In a regulatory filing dated December 19, 2024, KPI Green Energy announced a bonus issue. The company has set January 3, 2025, as the record date for determining shareholder eligibility for the issuance of bonus equity shares. The bonus will be issued in the ratio of one equity share for every two existing shares, pending shareholder approval through a postal ballot​.

MoU with the Government of Rajasthan

Adding to the positive sentiment, KPI Green Energy signed a Memorandum of Understanding (MoU) with the Government of Rajasthan for developing hybrid, solar, and wind power projects in Jaisalmer. This MoU highlights the company’s commitment to renewable energy and aligns with state policies to facilitate sustainable energy initiatives​.

Order Book 

It has a market capitalisation of ₹10,500 crore. Management expects a topline growth of 60% to 70% for FY25, supported by a strong order book and ongoing projects. The current outstanding EPC order book is approximately ₹2,500 to ₹3,000 crores, with 70%-80% of this won in FY25.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 20, 2024, 3:08 PM IST

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