Adani Green Energy Receives ₹2.36 Billion, Allots 2.1 Million Shares to Promoter Ardour in Latest Warrant Conversion

Adani Green Energy Ltd (AGEL) has further strengthened its capital base by converting a tranche of promoter warrants into equity, following the receipt of a balance subscription amount totaling ₹2.36 billion. The company’s board approved the allotment of approximately 2.1 million (21 lakh) equity shares to Ardour Investment Holding Ltd, a key promoter group entity, as part of its ongoing preferential issue program.

 

Key Highlights:

 

The warrants, originally issued to Ardour in January 2024 as part of a 6.31 crore (63.1 million) warrant allotment, are priced at ₹1,480.75 each. At the time of issue, Ardour paid 25% upfront, with the remaining 75%—₹1,110.56 per warrant—now received for this conversion tranche, bringing in ₹2.36 billion in fresh equity capital.

 

The newly allotted shares are issued at a face value of ₹10 each with a premium of ₹1,470.75 per share. These shares carry equal rights with existing equity, including voting and dividend entitlements.

 

This conversion is part of a phased capital infusion by Ardour, with the promoter group having the option to convert the remaining warrants by July 24, 2025, within the 18-month window allowed under SEBI regulations.

 

With each conversion, the promoter group’s stake in Adani Green Energy inches up, reflecting continued promoter confidence and support for the company’s ambitious renewable energy expansion plans.

 

Adani Green’s operational renewable energy capacity has grown 30% year-on-year to 14.2 GW in FY25, and the company’s EBITDA crossed the $1 billion mark, underscoring strong financial and operational momentum.

 

This latest equity infusion not only strengthens Adani Green’s balance sheet but also signals robust backing from its promoters as the company accelerates its leadership in India’s renewable energy sector.

 

Sources: Adani Green Energy, NDTV Profit, Economic Times, HDFC Sky