KPI Green Energy (KPIG) has been on a remarkable upward trajectory, and recent developments indicate that this momentum is set to continue. The company has announced its first-ever stock split, following a successful bonus issue and an impressive 450% increase in its stock price over the past year.
First-Ever Stock Split on the Horizon
In a significant move, KPI Green's board has approved a stock split, marking a new chapter in the company's history. One existing share with a face value of ₹10 will be divided into two shares, each with a face value of ₹5. This decision comes on the heels of a 1:2 bonus issue earlier in 2024, which effectively doubled the number of outstanding shares. This follows a similar 1:1 bonus issue implemented in 2023.
Boosting Liquidity and Attracting New Investors
The primary goal of the stock split is to increase the number of outstanding shares and potentially improve trading liquidity. By reducing the price of individual shares, KPI Green aims to make its stock more affordable and accessible to a broader range of investors. However, before the split can be finalized, shareholder approval via a postal ballot is required, along with the setting of a record date.
Stellar Performance Continues
KPI Green's positive momentum is not just limited to the stock split. The company has recently secured new orders for solar power projects totaling 74.3 MW. Additionally, they reported a significant increase in both revenue and net profit for the financial year 2024. In a further show of confidence, the board has recommended a final dividend of 2% for FY24, pending shareholder approval.
Investor Confidence on the Rise
With a robust financial performance, a generous dividend proposal, and an upcoming stock split, KPI Green Energy is clearly signaling confidence in its future prospects. Investors have responded positively, with the stock price already up 4.7% today and having doubled so far in 2024.
Looking Ahead
These series of positive developments position KPI Green for continued growth and heightened investor interest. The stock split, coupled with the company's strong fundamentals, is likely to make KPI Green an even more attractive proposition for a wider range of investors.
As KPI Green Energy continues to expand its footprint in the renewable energy sector, it stands as a beacon of growth and opportunity for its shareholders and new investors alike. The future looks bright for KPI Green, and the journey ahead promises to be exciting and rewarding.
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