KPI Green Energy unit receives letters of intent to develop solar power projects with cumulative capacity of 32.15 MW

KPI Green Energy on Friday, January 3 said its subsidiary Sun Drops Energia Pvt Ltd has received letters of intent for the development of solar power projects with a cumulative capacity of 32.15 MW under the company’s captive power producer (CPP) business segment.

The entities awarding the orders are — Aditya Ultra Steel, Suraj Dyeing & Printing, Sunita Processors, Balaji Polyester, Citizen Metalalloys, Suez Internationals, Vintage Tiles, SIddheswari Textile, PD & Sons, Hayat Enterprise, Meghdoot Leisure and Devang Paper Mill.

The projects are tentatively scheduled to be completed in the 2025-26 financial year, in various tranches as per the terms of the orders.

KPI Green Energy shares are trading ex-bonus from Friday, January 3. The company had announced the issue of one free share for every two shares held as on the record date.
Between March and September, KPI Green’s retail shareholding (those with authorised share capital of up to ₹2 lakh), has gone up by 1 lakh in absolute terms.

At the end of the March quarter, KPI Green Energy had 1.51 lakh retail shareholders, based on the data available on BSE’s shareholding pattern. At the end of the September quarter, that number has increased to 2.53 lakh.

In percentage terms, retail shareholders now hold 22.58% stake in KPI Green Energy, compared to 20.95% they held at the end of March 2024.

At the same time, the promoter stake has come down from 53.08% in March to 48.77% in September.

KPI Green Energy shares were trading 3.23% lower at ₹553.4 apiece at 11.45 am on Friday, December 3. The stock has gained 18.55% in the past year.

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