Adani Green to Get ₹500 Cr Equity Boost from Promoter Ardour’s Warrant Conversion
Shares of Adani Green Energy were in the spotlight on April 30 after the company announced that Ardour, an entity from its promoter group, would convert 44,90,416 convertible warrants into equity shares, resulting in a capital infusion of nearly ₹500 crore.
The move comes as part of a preferential allotment plan initiated in January 2024, when Adani Green had allotted a total of 6.31 crore convertible warrants to Ardour at ₹1,480.75 per warrant. At the time of allotment, Ardour paid ₹370 per warrant as an initial subscription.
The remaining amount of ₹1,110.56 per warrant will now be paid by Ardour to complete the conversion, bringing the total investment for this tranche to ₹498.68 crore. Adani Green’s board approved the allotment of equity shares during a meeting on April 29, 2025. Each equity share has a face value of ₹10.
As per SEBI’s ICDR regulations, the remaining 5.86 crore warrants can be converted into equity by July 24, 2025. The new shares will carry equal rights on dividends and voting, matching those of existing shareholders.
Q4 Performance: Strong Growth in Profit and Revenue
Earlier this week, Adani Green reported a 24% year-on-year rise in its net profit for Q4 FY25, reaching ₹383 crore. Its core operational revenue surged 21.6% to ₹3,073 crore, with revenue from power supply climbing 37% to ₹2,655 crore.
Stock Movement
Despite the positive developments, the stock experienced volatility during Wednesday’s session. Adani Green shares opened at ₹928.50, a 0.6% rise from the previous close of ₹921.90, but quickly dropped to an intraday low of ₹911.55. As of 10 AM, the stock was trading at ₹919.25, down 0.3% on the BSE.
