In a significant development, the Board of Directors of KPI Green Energy Limited has approved the raising of funds amounting to ₹1,000 Crores. This decision was made during a board meeting.
The board has sanctioned the issuance of equity shares or other equity-linked securities, convertible or exchangeable for equity shares. This fundraising will be conducted through a Qualified Institutions Placement (QIP), as per Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other relevant laws. The issue will be executed in one or more tranches, depending on market conditions and company requirements.
This move is subject to necessary approvals, including a special resolution from the company’s members and various statutory permissions and sanctions.
The issuance of securities through QIP will help KPI Green Energy Limited in meeting its growth objectives and enhancing its capital structure. The total number of securities to be issued will be determined based on the issue price at the time of issuance.
KPI Green Energy Limited will notify the shareholders in due course regarding the date for seeking their approval for this substantial fundraising initiative. This strategic financial move underscores the company’s commitment to expanding its renewable energy operations and strengthening its market position.
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