Adani Green Energy Limited (AGEL) has announced that the Board of Directors of AGEL have approved a preferential issuance of warrants to the promoters of AGEL for a quantum of Rs 93.50 billion (equivalent to USD1,125 million) at a per share price of Rs 1,480.75 per share.
The issuance is subject to the approval of regulatory and statutory authorities as well as the shareholders of the company. The funds shall be utilised for deleveraging and accelerated capital expenditure. AGEL is now fully equipped to achieve its stated target of 45 GW by 2030, with 20.6 GW locked in capacity, secured land of over 200,000 acres (equivalent to over 40 GW of additional capacity) in resource rich areas of India and additional equity infusion of Rs 93.50 billion which fully funds this stated target.