KPI Green to acquire majority stake in KPark Sunbeat for Rs 1.26 billion

KPI Green Energy Limited is acquiring 99.9 per cent equity stake in KPark Sunbeat Private Limited, at a cost of approximately Rs 1.26 billion.

The payment for this acquisition will be carried out in two stages. KPI Green Energy will issue and allocate 1,518,480 equity shares, each with a face value of Rs 10 per share. These shares will be priced at Rs 830.15 per share, with the remainder of the payment being settled in cash. KPark specialises in the development of solar power projects and aims to establish a 100 MW solar park in Gujarat, including 70 MW solar park located in Dhrangadhra and an additional 30 MW project situated in Surat.