Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Adani Green Converts 44.9 Lakh Warrants to Equity; Promoter Stake Rises to 61.05%

Adani Green Energy Ltd (AGEL) has approved the conversion of 44.9 lakh convertible warrants into equity shares by Ardour Investment Holding, a member of its promoter group. The warrants were issued at a price of INR 1,480.75 per warrant, which includes a premium of INR 1,470.75, and the latest conversion was completed after receiving the remaining 75?lance payment of INR 1,110.56 per warrant, amounting to a total of approximately INR 499 crore.

The original warrant allotment—6.31 crore warrants—was made on January 25, 2024, through preferential private placement. Ardour had initially paid 25% of the issue price (INR 370.19 per warrant) at the time of allotment. According to ICDR Regulations, the remaining 5.86 crore warrants can be converted by July 24, 2025 (within 18 months of allotment).

With the current conversion, AGEL’s paid-up equity capital has increased to INR 1,588.52 crore, comprising 1,588,522,894 shares of INR 10 each, up from 1,584,032,478 shares. As a result, the promoter group’s shareholding has risen from 60.94% to 61.05%.

This move strengthens promoter confidence in AGEL’s long-term growth and underlines capital infusion in India’s leading renewable energy firm.