Multibagger stock declares 1:1 bonus shares, share price surges by 5%

The company has said today in a stock exchange filing that “Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (‘Listing Regulation’), we wish to inform you that the meeting of the Board of Directors of the Company held today i.e. November 30, 2022 commenced at 3.35 p.m. & concluded on 4.30 p.m. at the registered office of the Company wherein Board of Directors, inter alia, has: 1. Considered, approved and recommended Ordinary Resolution through postal ballot to increase in authorized share capital of the company inter alia to accommodate the Bonus, from Rs. 20,00,00,000/- (Rupees Twenty Crores) to Rs. 40,00,00,000/- (Rupees Forty Crores Only) and consequent amendment to the Memorandum of Association of the Company. 2. Considered, approved and recommended Ordinary Resolution through postal ballot for the Issue of Bonus Equity Shares in the proportion of 1 (One) bonus equity share of Rs. 10/- each for every 1 (One) existing equity share of Rs. 10/- each held by the shareholders of the Company as on the record date, subject to the approval of shareholders through Postal Ballot.”

The Board of Directors of KPI Green Energy has informed stock exchanges that the total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately) is Rs. 18,06,70,000/- divided into 1,80,67,000 equity shares of Rs. 10/- each and the bonus shares will be issued out of the Company’s Securities Premium Account as on March 31, 2022. They further said that the estimated date by which such bonus shares would be credited/dispatched is within 2 months from the date of Board approval i.e. by January 29, 2023.

The shares of KPI Green Energy Ltd closed today at ₹950 apiece on the NSE, up by 4.98% from the previous close of ₹904.95. The stock recorded a total volume of 380,467 shares compared to the 20-Day average volume of 133,127 shares. On a YTD basis, the stock has gained 78.37% so far in 2022 and in the last 6 months, the stock has delivered a multibagger return of 111.18%. The stock had touched a 52-week-high of ₹962.00 on (09-September-2022) and a 52-week-low of ₹225.25 on (30-November-2021). For the quarter ended September or Q2FY23, the company recorded a promoter shareholding of 54.70%, FIIs stake of 2.42% and a public shareholding of 42.88%.