Surat (Gujarat) [India], July 28: The month of July ushered in a huge development for KPI Global Infrastructure Limited, the solar power company of Surat-based KP Group, and its investors.
On July 23, KPI Global Infrastructure Ltd. received an approval letter from BSE Limited for the migration of its equity shares from the BSE SME platform to the main board of BSE. While on the same day, the company also received an approval letter from the National Stock Exchange of India Limited (NSE) for the listing of its shares on the NSE main board platform. The equity shares of KPI Global Infrastructure started trading on the two platforms on July 27.
Speaking with reporters, KPI Global Infrastructure Ltd.’s founder cum promoter Mr. Faruk Patel expressed gratitude towards BSE & NSE and said that the trading of equity shares on both the exchanges would lead to greater visibility for the company and will allow the company to deliver higher value to all the stakeholders.
Sharing details about the projects undertaken by the company, Mr. Patel said, “We have executed more than 60 MW of solar power projects under the Captive Power Producer (CPP) and Independent Power Producer (IPP) models so far, and 40 MW projects are in the advanced stage of completion. We aim to touch 1,000 MW of solar projects by 2025 and are confident of delivering high-quality projects in the future too. We also take this opportunity to express our gratitude towards the shareholders for their faith in us.”
It is worth mentioning that KPI Global Infrastructure Ltd came out with its IPO on January 22, 2019. The company raised Rs. 39.94 crore by issuing 49,92,000 equity shares. The IPO was oversubscribed by more than 11 times.