KPI Green Energy Limited's board of directors has approved a preferential issue of equity warrants worth approximately ₹475.00 crore. The board meeting held on December 17, 2025, considered and approved the issuance of up to 1.01 crore fully convertible equity warrants to a promoter group entity.

Preferential Issue Details

The board approved the creation, offer, issue and allotment of up to 1,01,00,000 fully convertible equity warrants through preferential issue. Each warrant carries the right to subscribe to one equity share with a face value of ₹5.00. The warrants will be issued to Quyosh Energia Private Limited, an entity belonging to the promoter group category.

Payment Structure and Conversion Terms

The payment for the warrants follows a structured approach with 25% payable at allotment and the remaining 75% upon conversion:

Each warrant is exercisable into one equity share, with a tenure of 18 months from the date of allotment. The warrants can be converted in one or more tranches during this period.

Shareholding Impact

Upon full conversion of the warrants, Quyosh Energia Private Limited's shareholding will increase significantly:

Regulatory Approvals and Meeting Schedule

The preferential issue is subject to approval from shareholders and other regulatory authorities as required. The board has scheduled an Extra-Ordinary General Meeting (EGM) for January 16, 2026, to be conducted through Video Conference and Other Audio-Visual Means.

The board fixed December 17, 2025, as the relevant date for determining the floor price under SEBI ICDR Regulations. The board meeting commenced at 10:35 AM and concluded at 11:14 AM on December 17, 2025.

Scrutinizer Appointment

The board appointed Mr. Chirag Shah, and failing him Mr. Raimeen Maradiya, Partners at M/s. Chirag Shah and Associates, Practicing Company Secretaries, as scrutinizers for conducting the voting and remote e-voting process. The Notice of Extra-Ordinary General Meeting and other relevant documents will be submitted in due course.

KPI Green Energy Limited has announced a board meeting scheduled for December 17, 2025, to discuss a comprehensive fundraising proposal under Regulation 29 of SEBI Listing Regulations. The power generation and distribution company will evaluate raising funds through equity or equity-linked securities to strengthen its capital base.

Meeting Agenda and Details

The board meeting will focus on a specific fundraising proposal involving the issuance of equity or equity-linked convertible securities, including warrants, to promoters and promoter groups. The company has outlined multiple permissible modes for this capital raising exercise.

Fundraising Structure

The proposed fundraising will target promoters and promoter groups through various methods including private placement and preferential issue. The initiative requires regulatory and statutory approvals, with potential shareholder approval depending on the final structure.

Trading Window Closure

In compliance with SEBI insider trading regulations, KPI Green Energy has implemented a trading window closure effective December 12, 2025. The restriction applies to all directors, officers, connected persons, and designated insiders along with their immediate relatives, remaining closed until 48 hours after the board meeting outcome declaration.

This fundraising initiative represents a strategic move by KPI Green Energy to enhance its financial position in the competitive power generation and distribution sector, with the board set to determine specific terms including issue price and final structure.