Multibagger stock: KPI Green Energy shares in focus as board to consider stock split today

Multibagger stock: The board of KPI Green Energy Ltd, whose shares are up 421 per cent in the past one year, would be considering and approving the proposal for alteration in the capital of the company by sub division or split of existing fully paid up equity shares, having a face value of Rs 10 each.

KPI Green Energy had informed stock exchanges about the board meet on May 3.

The KPI Green Energy board recently approved raising of funds through issuance of equity shares or any other equity-linked securities of the company or other securities convertible into or exchangeable for equity shares by way of qualified institutions placements (QIP).

KPI Green Energy intends to raise funds in one or more tranches for an aggregate amount up to Rs 1,000 crore at such price or prices as may be permissible under applicable law, subject to necessary approval.

KPI Green Energy recently reported 35.4 per cent rise in consolidated net profit at Rs 43 crore for the March quarter. Sales for the company rose 58.6 per cent to Rs 289.40 crore.

"Further, as per the company's Code of Conduct to regulate, monitor and report, trading by Insiders and pursuant to Securities and Exchange Board of India (Prohibition of Insider Trading) Regulation, 2015, the Trading Window for dealing in securities of the Company will be closed for all the Directors / officers / Designated Persons (‘insiders’) from May 3, 2024 to May 25, 204 (both days inclusive) for considering the proposal for alteration in the capital of the Company by sub-division/split of existing equity shares," KPI Green Energy said on May 3.