Gautam Adani's Big Move, this company of Adani Group allots 1.08 crore shares to..., raises Rs 12090000000 by...
Adani Green Shares: Adani Green Energy will be in focus on Monday as billionaire businessman Gautam Adani's company has allotted 1.09 crore equity shares to Ardour Investment Holding Ltd through the conversion of share warrants. With this move, the company has raised Rs 1,208.59 crore. The management company has shown green light to the major allotment on July 12. Shares, with a face value of Rs 10 each, were issued at a Rs 1,470.75 premium, consistent with the January 25, last year, warrant agreement. Ardour Investment Holding Ltd is a promoter group entity. Are Experts Bullish About Adani's Move?
The majority of the experts expressed positivity about the development. They are bullish about Adani Green Shares. Brokerage Jefferies estimates that the stock may jump by more than 30 percent. What Is Adani Group's Announcement?
Adani Green Energy Limited on Saturday allotted 1.08 crore equity shares to Ardor Investment Holding Limited through conversion of share warrants. The company stated that Ardor still possess 1,15,76,193 warrants, which are valid to be converted within 18 months, as prescribed by SEBI till July 24, 2025. New shares will be equivalent to existing shares in every way, offering the same dividend rights and voting privileges. How Were The Quarterly Results?
Adani Green Energy reported strong financial results for the quarter ending March 31 2025. The company's net profit increased by 53 percent to Rs 230 crore, compared to Rs 150 crore in the same period in 2024. Revenue also witnessed a major growth, rising 20.8 percent year-on-year to Rs 3,053 crore. The company's EBITDA witnessed a 30 percent year-on-year increase, reaching Rs 2382 crore.
Status Of Adani Green Shares
Shares of Adani Green Energy Limited closed down by Rs 1.00 or 0.10 percent at Rs 994.60 on the BSE. World's leading full-service investment banking and capital markets firm, Jefferies, has maintained its buy rating on Adani Green Energy stock. It has set a target price of Rs 1,300 for the stock.
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