Earlier in the month of May, KPI Green Energy had announced that it will be splitting its shares in the ratio 1:2, which means that for every share having face value of Rs 10, there will now be 2 shares having face value of Rs 5.
The record date for the purpose of the split was later announced in early July. Investors who purchase the stock on the record date are not eligible to avail the benefit of the split.
βThe Board of Directors of the Company has fixed Thursday, July 18, 2024 as the βrecord dateβ for determining the eligibility of Shareholders for the purpose of subdivision/split of equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each fully paid-up,β said the company in a filing to the stock exchanges.
The authorized share capital structure that stands at 7 crore shares of the company with a face value of Rs 10 will stand at 14 crore shares with a face value of Rs 5 post the stock split.The rationale behind the split is to enhance the liquidity of the equity shares in the capital market and encourage the participation of small investors by making it more affordable.Incorporated in 2008, KPI Green Energy (Formerly known as KPI Global Infrastructure), is the solar and hybrid vertical of KP Group. It is a prominent Gujarat based solar and hybrid power generating company focused on providing solar and hybrid power through different Business verticals.Shares of KPI Green Energy have given multibagger returns of 258% returns in the last one year and surged nearly 111.5% in the current calendar year, while in the last 6 months also, the stock has proven to be a multibagger, gaining 112.5%.
The stock was trading 4% higher at Rs 2,023 on BSE around 11:30 am.
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