Advait Energy Transitions: Allotment of Equity Shares and Securing Major Contract

Advait Energy Transitions Limited (formerly Advait Infratech Limited) has announced the allotment of 19,261 equity shares pursuant to the conversion of previously issued warrants. This development follows an earlier announcement made on 6th September 2024 regarding the issuance of 1,41,591 convertible warrants at ₹1,776 per warrant.

The conversion has been executed following payment of the required balance amount, leading to an increase in the company’s issued and paid-up equity share capital. The new equity shares will rank pari-passu with existing shares in all respects.

The share price of Advait Energy Transitions was trading down by 7% as of 1:01 PM. 

Breakdown of Share Allotment

Two non-promoter entities have subscribed to the newly allotted equity shares:

Following the allotment, the company’s total issued equity capital now stands at ₹10,81,98,540, consisting of 1,08,19,854 equity shares of ₹10 each.

Preferential Issue Details

• The allotment was executed through preferential issue, a method that allows the company to issue shares directly to a selected group of investors.
• The issue price per share was ₹1,776, including a premium of ₹1,766.
• The conversion was completed as the company received ₹2,56,55,652 (₹1332 per warrant) as the balance amount.

Advait Energy Transitions Secures Emergency Restoration Systems Order

In a separate corporate update, Advait Energy Transitions Limited has secured a significant order from Parbati Koldam Transmission Company Limited for the supply and servicing of Emergency Restoration Systems (ERS).

Project Scope and Details

The contract involves the procurement of Emergency Restoration Systems for:

• 2 X 400 kV Single Circuit Parbati – Koldam Transmission Line
• 400 kV Double Circuit Koldam – Ludhiana Transmission Line

The order is classified under domestic procurement and is expected to be executed within a 10-month timeframe.

Significance of Emergency Restoration Systems

Emergency Restoration Systems (ERS) play a crucial role in ensuring the rapid restoration of transmission lines following unforeseen disruptions. These systems enhance grid resilience and minimise downtime, making them an essential component of the power infrastructure.

Conclusion

The recent allotment of equity shares and the contract for Emergency Restoration Systems mark notable corporate developments for Advait Energy Transitions Limited. The company continues to expand its operational footprint while raising capital through strategic issuances. 

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