KPI Green Energy Limited’s board has approved a proposal to raise up to Rs 10 billion through issuance of shares via qualified institutional placement (QIP).
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 10 billion.
Recently, KPI Green Energy secured 74.3 MW new orders for solar power projects. Within this total, KPI Green Energy has taken on 27 MW, including 20 MW for a solar power project that is part of a wind-solar hybrid project.
