Allotment of shares upon conversion of warrants
Awaiting price reaction for this filing.
Adani Green Energy has allotted 21,21,056 equity shares to Ardour Investment Holding Ltd (a promoter group entity) upon conversion of an equivalent number of convertible warrants. The shares carry a face value of Rs. 10 each with a premium of Rs. 1,470.75 per share, at an issue price of Rs. 1,480.75 per warrant, aggregating to about Rs. 235.56 crore. This is part of the 6,31,43,677 warrants originally allotted to Ardour on January 25, 2024, on a preferential basis. Post-allotment, promoter group shareholding has risen marginally from 61.86% to 61.91%, with the company's paid-up equity capital increasing from Rs. 1,622.59 crore to Rs. 1,624.71 crore. The remaining 2,24,58,864 warrants can still be converted by July 24, 2025.
This is a promoter-group led equity infusion with no fresh dilution for public shareholders; promoter holding rises slightly to 61.91%. The conversion strengthens the company's equity base by about Rs. 235 crore and signals continued promoter commitment, though it may create mild dilutionary pressure if the remaining warrants are also converted later.