KPI Green Energy Board Approves INR 1,000 Crore Fundraising Proposal

KPI Green Energy has announced that its board has given the green light to a proposal to raise up to INR 1,000 crore through the issuance of shares via qualified institutional placement (QIP). This strategic decision is contingent upon receiving approval from the company's shareholders, as indicated in a regulatory filing.

The proposal outlines the issuance of equity shares or other equity-linked securities convertible into equity shares. The issuance will adhere to the provisions set forth in Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other pertinent laws. 

The exact number of securities to be issued will be determined after the fixation of the issue price at the time of issuance. The company intends to conduct the issuance in one or more tranches, ensuring flexibility in the process.

According to the regulatory filing, KPI Green Energy aims to secure the necessary approvals, including a special resolution from its members, and other requisite permissions, sanctions, and statutory approvals, as mandated by law.