KPI Green Energy Secures Rs 475 Crore in Strategic Investment

KPI Green Energy announced its board's approval to raise Rs 475 crore by issuing equity warrants to Quyosh Energia, a promoter group entity. The conversion of warrants, priced at Rs 470.30, remains pending shareholder and regulatory approvals. Post-issue, Quyosh Energia's shareholding will reach 4.87%.

KPI Green Energy has revealed that its board has sanctioned a significant fundraise amounting to Rs 475 crore, facilitated through the issuance of equity warrants. The strategic investment is set to come from Quyosh Energia, a promoter group entity, though it awaits necessary shareholder and regulatory approvals.

According to an official exchange filing, the company plans to issue up to 1.1 crore fully convertible equity warrants to Quyosh Energia on a preferential basis. These will be priced at Rs 470.30 per warrant, collectively summing up to the planned Rs 475 crore.

Upon successful completion, Quyosh Energia's stake in KPI Green Energy will see an increment, allowing it to hold a 4.87 per cent share post-issue. The transaction underscores KPI Green Energy's strategic financial maneuvering within the renewable energy sector.

(With inputs from agencies.)