Multibagger Stocks: KPI Green Energy Limited has received a Letter of Award (LoA) to develop a 66.20 megawatt (MW) hybrid power project under the Captive Power Producer (CPP) segment. Despite this, the company’s shares are trading in the red today. However, in about two and a half years, this stock has risen more than 906 percent and reached this level from Rs 88.19.
The company gave this information about the order on Thursday i.e. today. In the last five days, KPI shares have risen by more than 10 percent. The company has received this order from Sai Bandhan Infinium Private Limited. According to the agreement, the project is planned to be completed in various phases by July 2025.
KPI Green Energy share price history
Shares of KPI Green Energy Limited opened at ₹902 per share on NSE. However, it could not sustain the initial gains and fell over 4.4% to an intra-day low of ₹861.20. If we talk about past performance, KPI Green Energy has given a staggering return of over 223 percent in a year. Whereas, this year so far it has jumped about 86 percent. Its 52-week high is Rs 1118 and low is Rs 259.
Earlier this month, KPI Green Energy received approval from the CEIG to develop a 12.72 MW wind-solar hybrid power project. This project too will be developed under the company’s CPP business segment.
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Green signal also given for 16 MW solar energy project
It also received the green signal from CEIG for construction of a 16 MW solar energy project under its CPP business segment. The company recently raised ₹1,000 crore through a qualified institutions placement (QIP) at an issue price of ₹935 per equity share, including a premium of ₹930 per share.
Following the allotment of shares under the QIP, the paid-up capital of the company increased to ₹65.63 crore, comprising 13,12,60,403 equity shares of face value of ₹5 each. Morgan Stanley Asia (Singapore) was the largest allottee in the QIP, securing 40.89% allotment. BofA Securities Europe SA ODI secured an allotment of 6.89%.
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