Adani Green Allots Shares Worth ₹2.36 Billion To Promoter Entity

Adani Green Energy Ltd. on Friday said its board has approved the allotment of 2.1 million equity shares to promoter group firm Ardour Investment Holding Ltd. following the conversion of an equivalent number of warrants.

The equity shares, with a face value of ₹10 each, were issued at ₹1,480.75 per warrant—of which ₹370.19 was paid at the time of allotment in January 2024. Ardour paid the remaining ₹1,110.56 per share, totalling ₹2.36 billion, to complete the conversion, the company said in a regulatory filing.

The allotment is part of the conversion of 24.6 million outstanding warrants issued on a preferential basis. The new shares will rank pari passu with the company’s existing equity shares. Following the conversion, the promoter group’s stake has increased slightly to 61.91% from 61.86%.