Adani Green Founders to Invest Rs 9,350 Crore Via Share Warrants
Adani Green Energy Ltd., the renewable energy unit of billionaire Gautam Adani, has received board approval to raise Rs 93.5 billion ($1.12 billion) by issuing share warrants to its founders. This move comes as the company aims for significant growth and prepares for bond repayments in the coming year.
According to an exchange filing on Tuesday, the company’s board approved the issuance of 63.1 million warrants at Rs 1,480.75. The funds raised through this issuance will be utilized for deleveraging and accelerated growth initiatives.
In addition to the share warrants, Gautam Adani and his family plan to inject $1 billion into Adani Green through preferential shares. Furthermore, the company is looking to raise at least $2 billion in mostly new debt in the next year, as reported by Bloomberg News, citing insiders familiar with the matter.
This fundraising plan highlights the Adani Group’s growing confidence in accessing funding sources both locally and overseas.
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Adani Green Energy Limited, one of India’s largest renewable energy companies, has announced that its founders plan to invest Rs 9,350 crore ($1.3 billion) into the company through the issuance of share warrants. The founders, Gautam Adani and Priti Adani, will subscribe to these warrants on a preferential basis. This investment will strengthen the company’s balance sheet and provide additional funds for its future growth plans. Adani Green aims to expand its renewable energy portfolio and become the world’s largest solar power company by 2025. This move demonstrates the founders’ confidence in the company’s potential and their commitment to promoting clean and sustainable energy in India.
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