Latest news with #Ardour
Business Standard
10-05-2025
- Business
- Business Standard
Adani Green Energy allots 53.90 lakh equity shares
On conversion of warrantsAdani Green Energy has allotted 53,90,668 equity shares to Ardour, a member of the promoter group of the company, on conversion of equivalent number of warrants on 09 May 2025. Pursuant to the allotment, the paid up equity share capital has increased to 159,84,73,946 equity shares of Rs 10 each. Powered by Capital Market - Live News
Mint
30-04-2025
- Business
- Mint
Adani Green shares in focus as promoter to convert warrants into equity, infuse ₹500 crore
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. The power generation company earlier this week posted a 24% jump in its March 2025 quarter net profit to ₹ 383 crore as against ₹ 310 crore in the same period a year ago. Its revenue from core operations rose 21.6% to ₹ 3,073 crore in the January to March quarter of FY25 on a YoY basis. Meanwhile, revenue from the power supply segment jumped 37% to ₹ 2,655 crore. Shares of Adani Green Energy were trading on a volatile note, gyrating between gains and losses. While Adani Green share price opened at ₹ 928.50, nearly 0.6% higher than its previous close of ₹ 921.90, it hit a day's low of ₹ 911.55 in less than 60 minutes of trade on the BSE. As of 10 am, Adani Green Energy stock was down 0.3% at ₹ 919.25 apiece.
Time of India
30-04-2025
- Business
- Time of India
Adani Green Energy promoters to inject Rs 500 crore in the company via warrant conversion
Adani Green Energy on Wednesday said its promoters will infuse Rs 500 crore into the company through the conversion of share warrants. The warrants will be issued at Rs 1,480.75 each. Ardour Investment Holding, a member of Adani Green's promoter group, has exercised 44.90 lakh convertible warrants, paying the remaining 75% of the issue price, or Rs 1,110.56 per warrant. This brings the total inflow to Rs 498.7 crore. Equity allotment approved The company's board, through its management committee, approved the allotment of 44,90,416 equity shares of face value Rs 10 each at a premium of Rs 1,470.75 per share during a meeting held on April 29. These shares were allotted pursuant to a preferential allotment first announced in January 2024, when Ardour was issued 6.31 crore warrants on a private placement basis, with 25% of the consideration paid upfront. With this allotment, the company's issued, subscribed, and paid-up capital has risen from 158.40 crore shares to 158.85 crore shares. Promoter holding inches up Following the share conversion, the promoter group's stake in the company has increased marginally from 60.94% to 61.04%. Ardour still holds 5.87 crore convertible warrants and can convert the remainder by July 24, 2025, within the 18-month window prescribed by the Securities and Exchange Board of India's (Issue of Capital and Disclosure Requirements) Regulations. Live Events The newly allotted shares rank pari passu with existing equity in terms of dividend entitlement and voting rights. Adani Green Energy shares were trading 0.4% lower in early trading on Wednesday at Rs 918.40 on the BSE. Also read | Adani Green Q4 Results: Cons PAT jumps 24% YoY to Rs 383 crore, revenue up 22%
Business Standard
29-04-2025
- Business
- Business Standard
Adani Green Energy allots 6.31 cr convertible warrants to Ardour
Adani Green Energy has allotted 6,31,43,677 convertible warrants to Ardour Investment Holding (Ardour), a member of the promoter group of the Company on 25 January 2024, by way of a preferential allotment on a private placement basis. The issue price of Rs.1,480.75 per warrant, out of which Rs. 370.19 (25% of the issue price) per warrant, was received as the initial subscription amount at the time of allotment of the warrants. Pursuant to the allotment, the paid up equity share capital has increased to 158,85,22,894 equity shares of face value of Rs 10 each.
