Home / Markets / Stock Markets /  Multibagger stock to mull bonus shares issue next week, shares jump

KPI Green Energy Ltd on Thursday said that the company's board of directors will meet next week on Wednesday, November 30, 2022 to consider the proposal for issue of bonus equity shares to the shareholders of the company. Shares of KPI Green Energy rallied more than 7% to 907 apiece on the BSE in afternoon deals.

“We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, November 30, 2022 to transact the following matters: 1. To consider the proposal for issue of bonus equity shares to the shareholders of the company. 2. To consider, approve and recommend appointment of Shanker Baheria as Non-Executive Independent Director of the company. 3. Any other matter with the permission of the Chairman," the company informed in an exchange filing today. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

Further, the company added that the Trading Window for dealing in securities of the company will be closed for all the Directors/ officers/ Designated Persons from November 24, 2022 to December 3, 2022 (both days inclusive) for consider the issue of bonus shares to the equity shareholders of the company, if recommended.

KPI Green Energy Limited (Formerly known as K.P.I. Global Infrastructure Limited), is the solar vertical of KP Group and a prominent Gujarat based solar power generating company. Incorporated in February, 2008, focused on providing solar power through different Business verticals. KPI Green Energy shares have given multibagger return of more than 105% during the last six months.

The company posted an over 72% rise in its consolidated net profit to 21 crore during Q2 FY23 as compared to 12 crore in the year-ago period in the year-ago period. The total income of the company rose to 160 crore in the quarter under review from 57.7 crore in the previous year. The board had also approved third interim dividend at 2.5 per cent, that is, 25 paise per equity share having face value of 10 each for the financial year 2022-23.

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