KPI Green Energy has received approval for acquisition of 9,990 equity shares having face value of Rs 10 each (Purchase Shares), representing 99.90% of the share capital of the KPark Sunbeat for a total consideration of Rs 126.07 crore.
The purchase consideration payable shall be discharged by way of issue and allotment of 15,18,480 equity shares of the Company having face value of Rs 10 each, at an issue price of Rs 830.15 per equity shares, on a preferential basis to Dr. Faruk G. Patel, promoter of the Company and balance through cash consideration. The Board of Directors of the Company in its meeting held on October 11, 2023 has considered and approved the same.
The Company is focusing on consolidation of solar power projects of the KP Group under single entity i.e., KPI Green Energy in order to achieve benefits of scale. This will enable the Company to dynamically allocate the resources in the best possible ways and achieve the ambitious target to touch combined renewable energy capacity of 1,000 MW by 2025. The acquisition of the above Target Company is an enabler for efficient reorganization of renewable energy businesses which may be pursued in future.
The object of the proposed preferential issue is to acquire the share of the KPark and upon completion of the transaction, KPark will become the subsidiary of the Company.
KPI Green Energy (formerly known as K.P.I. Global Infrastructure) is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (CPP) customers.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 3713.85 |
| Rail Vikas Nigam | 429.55 |
| NCC | 278.40 |
| KEC International | 1211.85 |
| Kalpataru Projects | 1276.30 |
| View more.. | |
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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