Adani Green Energy Ltd (AGEL) has received the approval of shareholders for the issuance of over two crore shares worth around Rs 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.

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At the extraordinary general meeting (EGM) convened on Tuesday, shareholders approved the issuance of equity shares on 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 Rs 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 Rs 1,923.25 each (at a premium of Rs 1,913.25 per equity share), the filing said. The total issue size works out to be around Rs 3,850 crore.

The deal is a part of the 7.3-billion dirham ($2 billion) investment to be made by the UAE's International Holding Company (IHC) in three Adani Group companies. IHC will invest Rs 3,850 crore in AGEL, Rs 3,850 crore in Adani Transmission Ltd (ATL), and Rs 7,700 crore in Adani Enterprises Ltd (AEL).

First Published:May 3, 2022 8:35 PM IST