Adani Green Share Price in Focus After Promoter Converts Warrants into Shares Worth ₹84.6 Crore

Ardour Investment Holding Ltd., a promoter of Adani Green Energy Ltd, has converted over 7.61 lakh warrants into the same number of equity shares. The total value of this conversion is ₹84.6 crore, according to the company’s stock exchange filing on Wednesday.

Difference Between Warrants and Equity

Warrants are like a future promise to buy equity. They give its holder the right to buy a company’s shares at a fixed price within a certain period. However, equity holders enjoy direct ownership in the company. They have voting rights, receive dividends, and benefit from any rise in the company’s share price.

Slight Increase in Promoter Shareholding

With this move, the promoter group’s shareholding in Adani Green has gone up slightly from 61.14% to 61.16%. Though the increase is small, it reflects continued promoter confidence in the company.

Background: Warrants Allotted in January 2024

In January 2024, Adani Green had allotted 6.3 crore convertible warrants to Ardour on a private placement basis. This was done to raise funds through a preferential allotment. Each warrant was priced at ₹1,480.75, out of which ₹370.19 was paid upfront at the time of allotment.

Latest Conversion Details

 Out of the remaining 5.48 crore warrants, Ardour has now exercised 7,61,688 warrants. These were converted into equity shares with a face value of ₹10 each. The board approved the conversion after receiving the balance payment of ₹1,110.56 per warrant, which is 75% of the total issue price.

More Conversions Expected

 As per the agreed terms, Ardour can convert the rest of the 5.4 crore warrants into shares anytime before July 24, 2025. The newly issued shares will enjoy the same rights as existing shares, including dividends and voting rights.

Recent Allotments and Market Reaction

 Just a day before this, Adani Green had allotted another 37.98 lakh equity shares to Ardour after a similar conversion. However, the market response was mild. On the BSE, Adani Green share price ended 0.65% lower at ₹917.4, while the Sensex gained 0.13%. The stock has declined 47% over the past 12 months and is down 12% in 2025 so far.

At 10:25 AM, Adani Green Energy share price was up 0.29% and was trading at ₹919.95.

Conclusion

The promoter’s move to convert warrants shows a continued investment in Adani Green. More conversions may follow, boosting promoter stake further.

Read more on: Which Adani Group Company Delivered Highest Profits in Q4FY25?

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