Adani group stock: Adani Green shares hogged the limelight in trade on Wednesday, April 30, after the company informed exchanges that Ardour, part of its promoter group, has opted to exercise and convert 44,90,416 warrants into equity shares of the company of the face value of ₹10 each, infusing nearly ₹500 crore in the company.
In January 2024, Adani Green had allotted 6,31,43,677 convertible warrants to Ardour, by way of a preferential allotment on a private placement basis. The issue price of the warrant was ₹1,480.75 apiece, out of which ₹370 (25% of the issue price) per warrant was received as the initial subscription amount at the time of allotment.
Adani Green, on Tuesday, informed exchanges that out of the 6,31,43,677 convertible warrants allotted to Ardour, it has opted to convert 44,90,416 warrants into equity shares.
Following this, the Management Committee of the Board of Directors of Adani Green, during its meeting held on April 29, 2025, considered and approved the allotment of 44,90,416 equity shares of the company with a face value of ₹10/- each. The shares will be allotted to Ardour once it pays the remaining amount of ₹1,110.56 per warrant. This will result in a capital infusion of ₹498.68 crore in Adani Green.
Adani Green informed that as per ICDR Regulations, Ardour can convert the balance 5,86,53,261 warrants by July 24, 2025 (18 months from the date of allotment). “The new equity shares so allotted shall rank pari passu with the existing equity shares of the Company in all respects, including the payment of dividend and voting rights,” the Adani group company said.
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