Adaani Green promoter changed a warrant of Rs 209 crore in equity, board approves, shares rise
New Delhi:
Adaani Green Energy Promoter Ardor Investment Holding Ltd has converted about 19 lakh warrants into equity shares. The total price of these shares is Rs 209 crore. With this, the stake of the Promoter Group in the company has increased from 61.56% to 61.60%. The company gave this information to the stock exchange on Tuesday.
6.3 crore convertible warrant
In January 2024 Adani Green had allocated 6.3 crore convertible warrants to Ardour. These warrants were given to raise funds through private placements. The value of per warrant was Rs 1,480.75. In the first phase, the amount was received at the rate of Rs 370.19/warrant.
Now Ardour has converted 18,84,671 warrants to face value of ₹ 10. For this, the company has received the remaining amount ₹ 1,110.56/warrant (75%of the total price).
Company board approved
The company’s board has approved the allocation of these shares. These new shares will come with all rights like dividend and voting like old shares. Ardour still has the option to convert around 3.55 crore warrants, the last date of which is 24 July 2025.
Adani Green Energy shares boom
After this announcement, in today’s early business, Adani Green Energy shares were trading at Rs 997.10 with a rise of about 1.34% at around 10 am.
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