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KPI Green Energy Stock Slips Nearly 5% On Discounted QIP Price
The stock fell as much as 4.85% during the day to Rs 1,311 apiece on the NSE.
19 Dec 2023, 11:24 AM IST ![NDTV Profit](/icons/feather-without-circle.svg)
![NDTV Profit](/icons/timer.svg)
(Source: KPI Green Energy website)
Shares of KPI Green Energy Ltd. fell nearly 5% on Tuesday as it launched a qualified institutional placement at a discounted price to raise up to Rs 300 crore.
The solar company's board has set the floor price for the issue at Rs 1,245 apiece, a discount of 9.64% from its previous close on the NSE, according to an exchange filing.
![KPI Green Energy Stock Slips Nearly 5% On Discounted QIP Price](https://media.assettype.com/bloombergquint%2F2023-12%2F3d438500-5493-4142-b907-9be306fb7954%2FWhatsApp_Image_2023_12_19_at_11_12_23.jpeg?auto=format%2Ccompress)
KPI's stock fell as much as 4.85% during the day to Rs 1,311 apiece on the NSE. It was trading 3.51% lower at Rs 1,329.50 apiece compared to a 0.1% decline in the benchmark Nifty 50 at 11:09 a.m.
The share price has risen 204.47% on a year-to-date basis. The total traded volume so far in the day stood at 1.1 times its 30-day average. The relative strength index was at 65.
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