11,000% rally in five years! Multibagger stock KPI Green announces 1:2 bonus share issue | Stock Market News

Bonus shares in 2024: KPI Green Energy, a key player in the renewable energy sector, announced a bonus share issue in the ratio of 1:2. Shareholders will receive one bonus equity share for every two shares they hold, as per the board meeting on November 14, 2024.

The bonus shares, with a face value of ₹5 each, will be credited or dispatched by January 14, 2025, pending shareholder approval. The record date to determine eligible investors will be announced soon. The issue will utilise ₹32.81 crore from the company’s securities premium account, which held ₹427.60 crore as of March 31, 2024.

KPI Green Energy share price history

KPI Green Energy’s stock performance has been nothing short of remarkable. On November 18, 2019, its shares were priced at just ₹6.89. By November 18, 2024, the stock has skyrocketed to ₹770, delivering an incredible 11,075 per cent return over five years, as per BSE analytics.

In the past year alone, the stock has surged 103.9 per cent, climbing from ₹377.62 on November 17, 2023, to ₹770 on November 18, 2024. The rally has also been strong in 2024 as well, with a year-to-date rise of 61.5 per cent as the stock increased from ₹476.52 on January 1, 2024, to ₹770 as of November 18, 2024, as per BSE analytics.

Details of KPI Green Energy share capital: Pre and post-bonus issue

KPI Green Energy’s share capital will see significant growth post the bonus issue.

Pre-Bonus: The company’s paid-up share capital stands at ₹65.63 crore, consisting of 13.12 crore fully paid-up equity shares of ₹5 each.

Post-Bonus: After the bonus issue, the paid-up share capital will increase to ₹98.44 crore, comprising 19.68 crore fully paid-up equity shares of ₹5 each.

Strategic growth and recent projects

The company has made significant strides in renewable energy. In October 2024, it signed power purchase agreements with Gujarat Urja Vikas Nigam Ltd. for 620 MW of projects, including 250 MW solar and 370 MW hybrid renewable energy projects.

Additionally, in September, KPI Green secured a 12.72 MW wind-solar hybrid power project for its captive business segment.

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