KPI Green Energy Board Recommends 1:2 Bonus Share Issue

KPI Green Energy, the renewable power company, announced a bonus share issue in the proportion of 1:2 on November 14, 2024. This means shareholders will receive one bonus equity share for every two fully paid shares held. The issue is subject to shareholder approval via a postal ballot. This is the second bonus share issued by the company in 2024, following a similar bonus declared earlier in February.

Details of the Bonus Issue

The bonus shares will be issued from KPI Green’s securities premium account, which stood at Rs.427.60 crore as of March 31, 2024. Retained earnings were reported at Rs.260.37 crore. The total bonus issue is valued at Rs.32.815 crore, involving 6,56,30,202 equity shares with a face value of Rs.5 each. The company plans to dispatch the shares on or before January 14, 2025, pending regulatory and shareholder approvals.

Past Corporate Actions & Dividends

KPI Green Energy has a history of rewarding investors. In addition to the February 2024 bonus issue, the company also conducted a stock split in July 2024 at a 1:2 ratio. Moreover, it has declared three interim dividends of Re.0.20 per share each in 2024, with the latest turning ex-dividend on November 14.

Financials

KPI Green’s shares are currently trading at Rs.766.40 apiece, showcasing a 2.05% rise today. The company’s market capitalization is Rs.9,856.34 crore. Year-to-date, the stock has surged by nearly 61%, with a 116% gain over the past year. The stock’s 52-week high is Rs.1,116, and its low is Rs.343.87.

Conclusion: KPI Green Energy’s Rs.32.81 crore bonus issue adds to a good year for the company, which has already seen its stock go up by 61% in 2024. With shares expected to be dispatched by January 2025 and the record date still to come, investors have another reason to keep an eye on the company.

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.