KPI Green Bonus Issue: Record And Allotment Date Announced—Check Details Here

KPI Green Energy Ltd. has set Jan. 3 as the record date to determine shareholder eligibility for its proposed bonus issue in a 1:2 ratio. Investors must own shares of the renewable energy company by Jan. 2, Tuesday, to ensure their stock is delivered to their demat accounts on a T+1 basis before the record date. 

The bonus issue, subject to shareholder approval through a postal ballot, entitles eligible shareholders to one bonus equity share of Rs 5 for every two existing equity shares of Rs 5 each.  

In the ongoing fiscal, KPI Green Energy has distributed interim dividends twice and also executed a stock split, reducing the face value of shares from Rs 10 to Rs 5. The company's stock has gained 74.51% over the last 12 months and is up 1.82% on a year-to-date basis. The relative strength index currently stands at 58.89. 

On Tuesday, KPI Green Energy announced approvals from the Chief Electrical Inspector for 28.28 MW of solar power projects under its captive power producer segment. These projects were executed for clients of KPI Green Energy and its wholly owned subsidiary, KPIG Energia Private Limited.  

Earlier, on Dec. 19, the company signed a Memorandum of Understanding with the Government of Rajasthan for developing hybrid solar and wind power projects in Jaisalmer's Ramgarh region. The state government will facilitate necessary permissions and clearances in line with existing policies and regulations.

Shares of the company closed 1.8% higher at Rs. 830 apiece compared to a 0.4% gain in the benchmark NSE Nifty 50 on Wednesday.

Among other major corporate actions this week is ITC's demerger of its hotel business. The stock will go ex-demerger on Jan. 6, which is also the record date for the demerger. Investors who want to receive shares of ITC Hotels must ensure they have ITC shares in their demat account on Jan. 6. Therefore, the last day to buy ITC shares to be eligible for ITC Hotel shares is Jan. 3.