Adani to invest Rs 9,350 cr in green energy subsidiary

New Delhi, December 26 Billionaire Gautam Adani and his family will infuse Rs 9,350 crore into Adani Green Energy Ltd (AGEL) to enable it to meet its debt obligations and achieve a 45 GW target by 2030, according to...

Tribune News Service

Updated At : 01:00 PM Dec 27, 2023 IST

New Delhi, December 26

Billionaire Gautam Adani and his family will infuse Rs 9,350 crore into Adani Green Energy Ltd (AGEL) to enable it to meet its debt obligations and achieve a 45 GW target by 2030, according to a company filing.

The investment “will be used for deleveraging and accelerated capital expenditure”. AGEL has bond maturities worth about Rs 10,000 crore coming up next year. The investment will be by issuance of 6.31 crore warrants at Rs 1,480.75 apiece to promoter group companies — Ardour Investment Holding and Adani Properties. The investment would give these companies 3.833% equity stake in AGEL.

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