Adani Green Energy raises Rs 2,337 cr via warrants

New Delhi: Adani Green Energy has raised Rs 2,337.51 crore through an issue of warrants to Ardour Investment Holding on a private placement basis.

"Management Committee of Board of Directors of Adani Green Energy at its meeting held on Thursday, has approved the allotment of warrants of the Company, on a preferential basis by way of a private placement, to Ardour Investment Holding Ltd", a BSE filing stated.

As per the filing, as many 6,31,43,677 warrants of Rs 1,480.75 each totalling Rs 23,37,51,57,789 are issued.

Upon conversion and exercise of the warrants into equity shares of the Company (which shall rank pari passu to the existing fully paid-up equity shares), the warrant holder will hold 3.83 per cent equity stake in the Company, on a fully diluted basis.

The equity shares issued upon conversion of the warrants so issued will be listed on BSE Limited and the National Stock Exchange of India Limited.