This multibagger solar power stock to trade ex-bonus this week

Shares of KPI Green Energy will trade ex-bonus on Wednesday (January 18) in respect of its bonus share issue of 1:1. The company, in its November board meeting, approved bonus issue of equity shares in the proportion of 1 share of Rs 10 each for every one share held by shareholders of the company as on the record date.

The company has fixed the record date as January 18. Providing a clarification on the record date, the company in a BSE filing said, “This is in reference to our earlier intimation regarding the record date for the purpose of bonus shares, whereby the company has fixed January 18, 2023, as the ‘record date’ for the purpose of determining the names of members who shall be entitled for allotment of bonus equity shares.

“In this regard, approval of the members has been sought by way of a Postal Ballot and the result for the same will be announced on January 10, 2023. Accordingly, we have finalised the record date in compliance of Regulation 42 (3) of Listing Regulations.”


Notably, on the ex-bonus date, the stock’s price gets adjusted in respect of the bonus share issue.
As part of the bonus share issue, the company will issue 1,80,67,000 equity shares of Rs 10 each from the company’s Securities Premium Account as on March 31, 2022.

Ahead of the ex-bonus date on Wednesday, the stock in Monday’s trade ended around 1% higher at Rs 865.05 apiece on the NSE.

KPI Green Energy is a multibagger stock, which has doubled investors wealth in the last 1 year with a return of 100.06%. Currently, the stock is trading 133% higher than its 52-week low price. The stock’s 52-week low and high prices are Rs 370.75 and Rs 975 per share, respectively.

FII shareholding in the stock has also increased in the last few quarters from 0.39% as of March 2022 to 2.42% the quarter ended September.

Commanding a market capitalisation of Rs 1,562 crore, KPI Green Energy is the leading Gujarat-based solar power generating company. The company develops, builds, owns, operates and maintains solar power plants as an Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP) under the brand name ‘Solarism’.