Adani Green Promoters To Infuse Rs 500 Crore Via Warrant Conversion At Premium To Market Price

Adani Green Energy Ltd. on Tuesday said its promoter entity Ardour has converted warrants worth Rs 500 crore into equity shares at Rs 1,480.75 per share—a 60.7% premium to the current market price of Rs 921.

The latest tranche comprises 44.90 lakh equity shares and follows an earlier conversion of Rs 2,337.5 crore worth of warrants in January 2024. The remaining balance of warrants, worth over Rs 6,500 crore, is eligible for conversion by July 24, 2025, within 18 months of allotment.

The company had issued 6.31 crore convertible warrants worth Rs 9,350 crore to Ardour, a member of the promoter group, through a preferential allotment in December 2023. Each warrant was priced at Rs 1,480.75, with 25% paid upfront.

The board’s management committee approved the latest allotment after receiving the remaining 75% payment of Rs 1,110.56 per warrant. Following this allotment, Ardour’s stake in Adani Green has risen to 61.04% of the total issued equity share capital.

The newly issued shares will carry equal rights with existing equity shares, including dividend and voting entitlements.

Adani Green Energy Ltd.'s Ebitda crossed the $1 billion mark in fiscal 2025, according to results declared on Monday.

Earnings before interest, taxes, depreciation and amortisation from the power supply business rose 35% year-on-year to Rs 2,453 crore in the January–March quarter, compared to Rs 1,811 crore in the same period last year.

For the full fiscal, Ebitda rose 22% to Rs 8,818 crore from Rs 7,222 crore in financial year 2024.

The company reported an Ebitda margin of 91% for the March quarter and 91.7% for the full year.

Adani Green's operational renewable energy capacity grew 30% on-year to 14.2 gigawatts in fiscal 2025, which it said continues to be the largest in India.

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