KPI Green Energy Limited shareholders have approved the appointment of Rajesh Shrivastava as a Director and Whole Time Director (WTD), alongside the re-appointment of Mrs. Venu Birappa as a Non-Executive Independent Director for a second five-year term. The resolutions were passed through a postal ballot conducted exclusively via remote e-voting, which concluded on July 25, 2026. The results, submitted to the stock exchanges on July 27, 2026, reflect strong promoter support and high retail participation, ensuring continuity in the company’s governance structure.

The voting process was conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Sections 108 and 110 of the Companies Act, 2013. Chirag Shah & Associates, represented by Maimeen Maradiya, served as the independent scrutinizer. The e-voting facility was managed by Central Depository Services (India) Limited (CDSL) and remained open from 9:00 a.m. on June 26, 2026, to 5:00 p.m. on July 25, 2026. The record date for determining voting eligibility was June 19, 2026, when there were 317,203 shareholders on the register.

Voting Results Overview

All three resolutions received significant majority support. The promoter group, holding 97,658,531 shares, voted 100% in favor of all proposals. Non-institutional public shareholders also backed all resolutions near-unanimously. However, institutional investors showed varying levels of support, particularly regarding Mrs. Birappa’s re-appointment.

Mr. Shrivastava’s appointment as Director was passed as an ordinary resolution, while his elevation to WTD and Key Managerial Personnel required a special resolution. Similarly, Mrs. Birappa’s re-appointment was processed as a special resolution. The total valid votes polled ranged between 124,682,173 and 124,682,233 shares, representing approximately 63.08% of the total paid-up equity capital.

Shareholder Participation Breakdown

Promoter shareholders demonstrated complete alignment with management proposals. Among public institutions, support for Mr. Shrivastava’s directorship stood at 82.90%, while his WTD appointment received 76.51% backing. Notably, the re-appointment of Mrs. Birappa saw a more divided response from institutional investors, with only 51.52% voting in favor compared to 48.49% against. Conversely, non-institutional public shareholders strongly supported all three resolutions, with approval rates exceeding 99.96%.

The scrutinizer report confirmed that no physical ballot forms were dispatched, adhering to Ministry of Corporate Affairs circulars permitting electronic-only communication. Notices were sent via email to members registered with NSDL and CDSL as of the record date. Newspaper advertisements were published in The Indian Express and Financial Express on June 24, 2026.

What the Numbers Show

The near-unanimous support from non-institutional retail shareholders contrasts with the cautious stance of some institutional investors, particularly regarding Mrs. Birappa’s re-appointment. This divergence suggests that while retail holders align closely with promoter interests, institutional stakeholders may be exercising greater scrutiny on board composition changes. Nevertheless, the substantial promoter block ensured all resolutions cleared the required thresholds comfortably. The high participation rate of 63.08% indicates strong shareholder engagement, reflecting confidence in the company’s governance processes despite the absence of physical voting options.

KPI Green Energy has successfully commissioned 200 MW (AC) / 269 MW (DC) of solar power capacity for Coal India Limited at Khavda, Gujarat. The project is part of a larger 300 MW (AC) / 405 MW (DC) grid-connected ground-mounted Solar PV initiative being executed on an EPC basis. The commissioning was certified by the Gujarat Energy Development Agency (GEDA).

The development strengthens the company's presence at Khavda, a major renewable energy hub. KPI Green Energy Limited is executing the project within GIPCL's Solar Park. The company is targeting a 10 GW clean energy portfolio by 2030.

Project Details

The commissioned capacity represents a significant portion of the total contract awarded to the company. The balance capacity of the project is currently under execution.

Strategic Context

Khavda is recognized as one of the country's largest renewable energy hubs. This commissioning demonstrates the company's execution capabilities in utility-scale solar delivery. The company remains focused on completing the balance capacity of the project.