KPI Green Energy to Issue Bonus Shares in 1:2 Ratio

Key Takeaways from KPI Green Energy Bonus Issue:

• KPI Green Energy plans to issue bonus shares in a 1:2 ratio, i.e., one bonus share for every two existing shares.
• The bonus issue, valued at approximately Rs. 32.81 crore, will be funded from the company’s Securities Premium Account.
• Shareholder approval via postal ballot is required for the bonus issue and alterations to the Memorandum of Association (MoA).
• Bonus shares are expected to be credited or dispatched by January 14, 2025, subject to necessary approvals.

The bonus issue is subject to shareholder approval via a postal ballot. The company has also proposed to alter the Capital Clause (Clause V) in its Memorandum of Association (MoA) to accommodate the bonus issue.

The total value of the bonus issue is estimated at approximately Rs. 32.81 crore, which will be issued from the company's Securities Premium Account, as of March 31, 2024. Following the bonus issue, the company's paid-up share capital will rise from Rs. 65.63 crore to Rs. 98.44 crore.

The bonus shares are expected to be credited or dispatched within two months from the date of the Board's approval, on or before January 14, 2025, pending necessary approvals.

The Board has also authorised the conduct of a postal ballot process to seek approval from shareholders on the proposed resolutions. Further details, including the postal ballot notice, will be provided in due course.

About KPI Green Energy Limited:

KPI Green Energy Limited, a key player in the renewable energy sector, is part of the KP Group and specialises in solar and hybrid power generation. Established in 2008 and based in Gujarat, the company focuses on providing clean energy solutions through its Independent Power Producer (IPP) and Captive Power Producer (CPP) models. Under the brand ‘Solarism’, KPI Green Energy develops, builds, operates, and maintains solar power plants. The company is committed to sustainable energy, offering solutions that reduce electricity costs and improve efficiency. With a strong track record, KPI Green Energy continues to lead in the renewable power sector.

Key Takeaways from Muthoot Finance Infusion:

• Muthoot Finance has approved an additional equity infusion of Rs. 500 crore into its wholly-owned subsidiary, Muthoot Money Limited.
• The capital infusion aims to strengthen Muthoot Money's financial position and improve its capital adequacy ratio.
• The infusion will be made in cash and is expected to be completed within one month.
• Muthoot Money Limited, a non-banking financial services company, reported a turnover of Rs. 1,261.4 million in FY 2023-24.

The purpose of the capital infusion is to strengthen the financial position of Muthoot Money Limited and improve its capital adequacy ratio. The investment will be made in cash and is expected to be completed within one month. 

Muthoot Money Limited is a non-banking financial services company, headquartered in Kerala. Over the past three years, the company has shown steady growth, with a turnover of Rs. 1,261.4 million in FY 2023-24, up from Rs. 446.88 million in FY 2022-23.

As Muthoot Money is already a wholly-owned subsidiary, the additional equity infusion will not change the company’s shareholding structure. The transaction does not require any regulatory approvals.

About Muthoot Finance Limited:

Muthoot Finance Limited, a leading financial services company in India, boasts a legacy of over 800 years of trust and commitment. Established with the goal of providing accessible financial solutions, Muthoot Finance is recognised for having the largest gold loan portfolio in India. The company offers a wide range of services, including personal loans, housing finance, SME loans, vehicle loans, insurance, and mutual funds. With a strong focus on financial inclusion, Muthoot Finance serves millions of customers, maintaining a reputation for reliability and customer-centric solutions. The company continues to innovate, driven by technology and ethical business practices.

Key Takeaways from Bharti Airtel Penalty:

• Bharti Airtel has been fined Rs. 2.26 lakh by the Department of Telecommunications (DoT) for violating subscriber verification norms.
• The penalty follows a DoT audit of Customer Acquisition Forms (CAFs) for September 2024.
• The violation pertains to non-compliance with subscriber verification terms in Airtel's Licence Agreement.
• The financial impact of the penalty is limited to Rs. 2.26 lakh, and Airtel will take appropriate actions as required.

The notice, received by the company on November 14, 2024, follows a sample audit of Customer Acquisition Forms (CAFs) conducted by the DoT for the month of September 2024.

The penalty relates to non-compliance with the subscriber verification terms and conditions set out in the company’s Licence Agreement. 

The financial impact of the penalty on the company is limited to the amount of Rs. 2.26 lakh, as per the notice. Airtel has acknowledged the penalty and will take necessary actions in accordance with the regulatory requirements. 

About Bharti Airtel Limited:

Airtel is the largest communications solutions provider with more than 550 million customers across 17 countries in South Asia and Africa. It ranks among the top three global mobile operators, covering over two billion people. The portfolio includes high-speed 4G/5G mobile broadband, Airtel Xstream Fibre, and various enterprise solutions.

Key Takeaways from the Acquisition

• Prestige Group buys 22,135 sq. meters of land in Mira Bhayandar, Mumbai, to build residencies near the Western Express Highway.
• The company will deliver approximately one million sq. ft. of residential carpet area in this development, with a strategic thrust on growth in key metropolitan markets.
• With this investment of approximately ₹291.58 crore, Prestige Group is looking to create a long-term value through high-quality urban home building.

The acquired land would be developed into a residential project covering nearly 1 million sq. ft carpet area. This acquisition pursues the vision and strategy of the Prestige Group to develop transformative living spaces that cater to the needs of modern urban residents and add long-term value to communities and stakeholders.

Speaking on the acquisition, Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, commented, “We are thrilled to announce the expansion of our presence in Mumbai with the acquisition of this land parcel together with all rights. This development, with a projected 1 million square feet of carpet area, underscores our commitment to strengthening our footprint in the Mumbai region and meeting the evolving demands of modern urban living. This strategic addition will further our vision of creating transformative spaces that deliver long-term value to our communities and stakeholders.”

About Prestige Group

Prestige Group is one of the top realty firms in India with a legacy of more than three decades and experience in all the residential, office, retail, hospitality, and property management segments. They have already completed 302 projects and have a total developable area of 193 million sq, spread over more than 13 major locations in India. with over five decades of architectural excellence ft. as of September 2024. Prestige Group, known for quality and innovation, enjoys CRISIL DA1+ and ICRA A+ ratings, testifying to its high standing in the industry and commitment to excellence.