The qualified institutional placement (QIP), which commenced on 12 August 2024, concluded on 16 August 2024, with a total of 1,06,95,187 equity shares being allotted. The shares were priced at Rs 935 per share, resulting in an issue size of approximately Rs 1,000 crore.

The issue price of Rs 935 is at a discount of 4.91%, to the floor price of Rs 983.24 per equity share set for the QIP issue.

Pursuant to the allotment of equity shares under the QIP, the paid-up equity share capital of the company increased from Rs 60.28 crore consisting of 12,05,65,216 equity shares of face value of Rs 5 each to Rs 65.63 crore consisting of 13,12,60,403 equity shares of face value of Rs 5 each.

Morgan Stanley Asia (Singapore) emerged as the largest allottee, securing a substantial 40.89% allocation. Following, Bofa Securities Europe SA – ODI received allocations of 6.89%.

KPI Green Energy develops and maintains grid connected solar power projects and sells power units generated from the company's solar plants.

The company’s consolidated net profit surged 98.76% to Rs 66.11 crore in Q1 FY25 as compared to Rs 33.26 crore recorded in Q1 FY24. Revenue from operations climbed 83.78% year on year (YoY) to Rs 348.01 crore in Q1 FY25.

The counter declined 0.45% to end at Rs 997.95 on Friday, 16 August 2024.