Adani Green Energy Allots Over 21 Lakh Equity Shares To Promoter Group Entity Ardour Investment

Adani Green Energy Limited (AGEL) has made a significant move by converting a portion of previously issued share warrants into equity shares for a member of its promoter group. This development highlights the continued capital infusion and confidence from the promoter group in the company’s long-term growth.

Adani Green Energy Allots 21 Lakh Shares to Promoter Group Entity

Adani Green Energy has approved the allotment of 21,21,056 equity shares to Ardour Investment Holding Ltd, a promoter group entity. This issuance is pursuant to the conversion of share warrants that were initially allotted on January 25, 2024. Each equity share has a face value of ₹10 and has been issued at a premium of ₹1,470.75, bringing the total issue price per share to ₹1,480.75.

Ardour had initially paid ₹370.19 per warrant, which represented 25% of the issue price. With the conversion of these warrants, the remaining ₹1,110.56 per warrant (75% of the issue price) has now been received by the company.

Impact On Share Capital Structure

Following this transaction, Adani Green Energy’s issued, subscribed and paid-up capital has increased from 162.25 crore equity shares to 162.47 crore equity shares. The conversion and allotment of these new shares reflect a healthy capital inflow of approximately ₹235.56 crore.

This capital increase not only strengthens the company's equity base but also demonstrates promoter commitment through direct participation.

Promoter Shareholding Marginally Increases

The promoter group’s holding has risen slightly from 61.86% to 61.91% as a result of this conversion. While this is a marginal increase, it reinforces promoter confidence in the company and provides an indicator of long-term backing.

It is noteworthy that Ardour Investment Holding Ltd still retains the option to convert the remaining 2.24 crore warrants by 24 July 2025.

Preferential Allotment Route And Compliance

This equity issuance has been carried out under the preferential allotment route on a private placement basis. 

The newly issued shares will rank pari passu with existing equity shares in all respects, including dividend and voting rights.

Key Details Of The Allotment

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Conclusion

This development marks yet another capital movement within the Adani Green Energy framework as it continues to mobilise funds for its strategic initiatives. While not indicative of future performance, such actions often signal internal optimism regarding a company’s trajectory.

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