Adani Green Allots 1.15 Crore Shares Post Warrant Conversion, Ups Promoter Stake

Adani Green Energy Ltd. (AGEL) announced the allotment of 1,15,76,193 equity shares to Ardour Investment Holding Ltd., a promoter group entity, following the conversion of previously issued share warrants.

The company had originally allotted over 6.31 crore convertible warrants to Ardour on January 25, 2024, under a preferential allotment. Each warrant was priced at INR 1,480.75, with 25 percent paid upfront and the remaining 75 percent due upon conversion.

During a recent meeting, AGEL’s board approved the issuance of the equity shares after Ardour exercised its right to convert the remaining warrants, completing the full conversion of the originally issued batch. The newly allotted shares carry a face value of INR 10 each and were issued after receipt of the remaining subscription amount.

As a result of the allotment, the company's issued, subscribed, and paid-up share capital increased from INR 163.56 crore to INR 164.71 crore. The promoter group’s holding rose modestly from 62.17 percent to 62.43 percent.