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KPI Green Energy Limited opens its QIP with a floor price of ₹983 per share, aiming to raise capital for growth. The KPI Green Energy shares have outperformed broader markets by delivering a 293.58% return over the past 12 months.
KPI Green Energy Limited has officially set the floor price for its Qualified Institutional Placement (QIP) at ₹983 per share, as per a regulatory filing on Monday, August 12. This strategic move is aimed at raising capital to support the company’s operations and future growth.
The company’s board of directors convened on Monday to finalise the details of the QIP. The QIP plan had previously received board approval on May 13, 2024, and was subsequently endorsed by shareholders on June 28, 2024.
The placement is now open, with the floor price of ₹983.24 per share set in accordance with the guidelines established by the Securities and Exchange Board of India (SEBI).
The floor price of ₹983.24 per share is calculated based on SEBI’s pricing regulations. Additionally, under SEBI rules, KPI Green Energy has the flexibility to offer a discount of up to 5% on this floor price for the shares sold through the QIP.
The relevant date for this QIP has been identified as August 12, 2024.
Explore More: Kpi Green Energy Limited Share Price
On Monday, the KPI Green Energy's share price closed 3.29% higher at ₹1,099.95, which represents a gain of ₹35.05 per share. The stock has performed exceptionally well over the past year, delivering a massive return of 293.58%, equivalent to a rise of ₹820.48.
Investors are keenly watching KPI Green Energy shares, given its strong performance and the company’s strategic steps towards expansion. The QIP is a critical element in KPI Green Energy's broader strategy to enhance its financial stability and drive future growth.
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