KPI Green Energy Limited Approves ₹475 Crore Preferential Warrant Issue To Promoter Group Entity

The Board of Directors of KPI Green Energy Limited has approved the allotment of 1,01,00,000 fully convertible equity warrants on a preferential basis to Quyosh Energia Private Limited, a company belonging to its promoter group. The decision was taken at a board meeting held between 11:35 A.M. and 12:10 P.M., following earlier approvals from shareholders and in-principle approvals received from the National Stock Exchange and BSE Limited.

The warrants have been issued at an exercise price of ₹470.30 per share, which includes a premium of ₹465.30. Each warrant can be converted into one equity share with a face value of ₹5. As per the agreed terms, 25% of the total consideration has already been paid at the time of allotment. The remaining 75% will be paid at the time of conversion. The total size of the issue is approximately ₹475 crore.

Before the allotment, Quyosh Energia Private Limited held 15,99,529 shares, representing a 0.81% stake in the company. Upon full conversion of the warrants, its holding will rise to 1,16,99,529 shares, increasing its stake to 5.64%. The warrants can be converted in one or more tranches within 18 months from the date of allotment.

The company also stated that the securities will be subject to mandatory lock-in requirements as per the regulations of the Securities and Exchange Board of India. The disclosure was signed by Whole Time Director Mohmed Sohil Yusufbhai Dabhoya.