KPI Green Energy Limited, one of the prominent names in the renewable power generating sector, has announced its intention to raise up to Rs 1,000 crore through the issuance of equity shares via qualified institutional placement (QIP). The decision was approved by the company’s board and is subject to shareholder approval, as per a regulatory filing.
The board’s approval encompasses the raising of funds through the issuance of equity shares or any other equity-linked securities convertible into shares, including one or more qualified institutional placements in tranches. The proposed aggregate amount for the fundraising is Rs 1,000 crore.
KPI Green Energy, formerly known as K.P.I. Global Infrastructure Limited, has been actively involved in renewable energy projects, contributing to the country’s sustainable energy goals. The decision to raise funds through equity issuance underscores the company’s commitment to further expand its presence and invest in renewable energy infrastructure.
Qualified institutional placement is a popular method used by companies to raise funds from institutional investors, allowing them to issue securities to qualified buyers without the need for a public offering. This approach provides companies with a flexible and efficient way to raise capital for various expansion and growth initiatives.
As renewable energy continues to gain momentum globally, companies like KPI Green Energy are poised to play a crucial role in driving the transition towards cleaner and more sustainable energy sources. The funds raised through the proposed equity issuance are expected to support the company’s strategic objectives and contribute to its long-term growth trajectory.
