KPI Green Energy Board Approves Plan to Secure Up to Rs 1,000 Crore in Funding

KPI Green Energy plans to raise up to Rs 1,000 crore through a qualified institutional placement. The board has approved the proposal, subject to shareholder approval. This funding will support the company's growth as a renewable power generator based in Gujarat.

KPI Green Energy on Monday said its board has approved a proposal to raise up to Rs 1,000 crore through issuance of shares via qualified institutional placement.

This is subject to approval from shareholders, according to a regulatory filing.

The board has approved the ''raising of funds through the issuance of equity shares or any other equity-linked securities or other securities convertible into or exchangeable for shares by way of QIPs (including one or more qualified institutional placements in tranches) in one or more of the tranches for an aggregate amount up to Rs 1,000 crore.'' Based in Gujarat, KPI Green Energy Limited (formerly known as K.P.I. Global Infrastructure Limited), is a leading renewable power generating company.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)