Adani Green Allots 10.88 Million Shares To Promoter Group Entity 

Adani Green Energy Ltd. on Saturday said its board has approved the allotment of 10.88 million equity shares to promoter group entity Ardour Investment Holding Ltd. upon conversion of an equivalent number of convertible warrants.

Each share has a face value of ₹10. Following the allotment, the promoter group’s stake in the company has increased to 62.17% from 61.91%, the company said in an exchange filing.

In January 2024, Adani Green had allotted 63.14 million convertible warrants to Ardour through a preferential allotment at an issue price of ₹1,480.75 per warrant, with 25% paid upfront. The balance 75% of the issue price has now been paid for the 10.88 million warrants being converted, the company added.