KPI Green Energy to Raise ₹475 Cr

New Delhi, Dec 17 (PTI) KPI Green Energy on Wednesday said its board has approved a fundraise of Rs 475 crore from a promoter group entity through an issue of equity warrants.

The proposal remains subject to shareholders' approval and other relevant clearances, the a solar and hybrid power generating company said in an exchange filing.


The company will issue, on a preferential basis, up to 1.1 crore fully convertible equity warrants to Quyosh Energia, a promoter group entity, at an issue price of Rs 470.30, aggregating to Rs 475 crore, the filing said.

The shareholding of Quyosh Energia will be 4.87 per cent post issue.

"The board has approved to create, offer, issue and allot by way of a Preferential Issue of up to 1.1 crore fully convertible equity warrants each carrying a right exercisable by the warrant holder to subscribe to one equity share of the face value of Rs 5 each against each warrant at an issue price of Rs 470.30 to Quyosh Energia, an entity belonging to the promoter group category," the filing said.