Adani Green Energy Ltd (AGEL) has received the approval of shareholders for the issuance of over two crore shares worth around ₹3,850 crore on a preferential basis to Green Energy Investment Holding RSC Ltd. The current principal shareholder of Green Energy Investment Holding RSC Ltd is IHC Capital Holding LLC.
At the Extra-Ordinary General Meeting (EGM) convened on Tuesday, shareholders approved the issuance of equity shares on a preferential basis to Green Energy Investment Holding RSC Ltd, according to a regulatory filing.
In a separate filing, the company said it has executed a Share Subscription Agreement (SSA) on Monday with Green Energy Investment Holding RSC Ltd for the issuance and allotment of 2,00,18,198 equity shares of face value of ₹10 each of the company to the investor on preferential basis.
The 2,00,18,198 equity shares will be issued at a price of ₹1,923.25 each (at a premium of ₹1,913.25 per equity share), the filing said.
Total issue size works out to be around ₹3,850 crore.
The deal is a part of the 7.3 billion dirhams ($2 billion) investment to be made by the UAE’s International Holding Company (IHC) in three Adani Group companies.
IHC will invest ₹3,850 crore in AGEL, ₹3,850 crore in Adani Transmission Ltd (ATL), and ₹7,700 crore in Adani Enterprises Ltd (AEL).
