Adani Green Energy Limited has informed the Exchange regarding 'Intimation of allotment of equity shares upon conversion of warrants'.
ADANIGREEN · price
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Awaiting price reaction for this filing.
Adani Green Energy has allotted 7,61,688 equity shares to Ardour Investment Holding Ltd (part of the promoter group) after Ardour exercised a part of its convertible warrants. The warrants were originally issued on January 25, 2024 at Rs. 1,480.75 per warrant, with 25% paid upfront at allotment. Ardour has now paid the remaining 75% (Rs. 1,110.56 per warrant) to convert these warrants, bringing in roughly Rs. 84.59 crore to the company. After this allotment, promoter group shareholding has marginally risen from 61.14% to 61.16%. A large balance of about 5.41 crore warrants still remains and can be converted by July 24, 2025.
Minimal impact on public shareholders — this is a small tranche conversion by the promoter group, resulting in only a 0.02% increase in promoter holding. The remaining ~5.41 crore unconverted warrants could lead to further dilution in the future if fully exercised.