Adani Green Energy Ltd announced today that its arm Adani Renewable Energy Fifty Seven Ltd has operationalised incremental solar power project of 187.5 MW at Khavda, Gujarat.
With this addition, AGEL’s total operational renewable generation capacity has increased to 14,528.4 MW.
In a separate development, AGEL has approved the conversion of 18,84,671 warrants into 18,84,671 equity shares warrants by Ardour Investment Holding, a member of the promoter group of the Company.
The warrants, issued to Ardour at a price of INR 1,480.75 each (including a premium of INR 1,470.75 each), were converted into equity shares upon receipt of the balance subscription amount of INR 1,110.56 per warrant (75% of the issue price), aggregating to around INR 209 crore.
AGEL had allotted 6.31 crore convertible warrants to Ardour on Jan. 25, 2024, by way of a preferential allotment on a private placement basis. Out of the issue price of INR 1,480.75 per warrant, INR 370.19 (25% of the issue price) per warrant was received as the initial subscription amount at the time of allotment of the warrants.
Upon the latest warrant conversion, promoter group shareholding stands increased from 61.56% to 61.6%.
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