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Adani family to invest Rs 9,350 cr in green energy arm
New Delhi: Billionaire Gautam Adani and his family will inject Rs 9,350 crore into the conglomerate's green energy arm to equip it to achieve the 45...
New Delhi: Billionaire Gautam Adani and his family will inject Rs 9,350 crore into the conglomerate's green energy arm to equip it to achieve the 45 GW target by 2030 and to meet debt payment obligations, according to a company filing. The board of Adani Green Energy Ltd (AGEL) on Tuesday approved the plan to issue 6.31 crore warrants at Rs 1,480.75 apiece to promoter group companies, Ardour Investment Holding Ltd and Adani Properties Pvt Ltd.
The investment of Rs 9,350 crore "will be used for deleveraging and accelerated capital expenditure" in AGEL, the firm said in the filing. The investment would give the promoter group firms 3.833 per cent equity stake in the company. AGEL closed at Rs 1,599.90, up 4.3 per cent, on the BSE on Tuesday.
