Description
Adani Green Energy Limited lists 2,45,79,920 equity shares issued at Rs. 1480.75 per share on preferential basis pursuant to warrant conversion, effective November 27, 2025.
Summary
BSE has approved the listing of 2,45,79,920 new equity shares of Adani Green Energy Limited (Scrip Code: 541450) issued to promoters on a preferential basis pursuant to warrant conversion. The shares are listed and permitted to trade effective November 27, 2025, with an issue price of Rs. 1,480.75 per share (face value Rs. 10 plus premium of Rs. 1,470.75). All shares are subject to lock-in until May 29, 2027.
Key Points
- Total New Shares: 2,45,79,920 equity shares of Rs. 10/- each
- Issue Price: Rs. 1,480.75 per share (including premium of Rs. 1,470.75)
- Allotment Basis: Preferential allotment to promoters pursuant to warrant conversion
- ISIN: INE364U01010
- Distribution Numbers: 2272285236 to 2296865155
- Listing Date: November 27, 2025
- Ranking: Pari-passu with existing equity shares
- Total Capital Raised: Approximately Rs. 3,639.62 crore (24,579,920 shares × Rs. 1,480.75)
Lock-in Details
All shares are locked-in until May 29, 2027, with the following allotment schedule:
| Allotment Date | Number of Shares | Distribution Numbers | Lock-in Period |
|---|---|---|---|
| June 20, 2025 | 21,21,056 | 2272285236 - 2274406291 | Until May 29, 2027 |
| July 12, 2025 | 1,08,82,671 | 2274406292 - 2285288962 | Until May 29, 2027 |
| July 17, 2025 | 1,15,76,193 | 2285288963 - 2296865155 | Until May 29, 2027 |
Regulatory Changes
No regulatory changes. This is a standard preferential allotment listing under existing SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Compliance Requirements
- Trading Members: Must update systems to reflect new share capital and distribution numbers
- Company: Must comply with lock-in requirements and promoter holding disclosure norms
- Promoters: Shares remain locked-in and non-transferable until May 29, 2027
- Investors: Should note increased share capital for dilution calculations
Important Dates
- Notice Date: November 26, 2025
- Listing and Trading Start: November 27, 2025
- First Allotment Date: June 20, 2025
- Second Allotment Date: July 12, 2025
- Third Allotment Date: July 17, 2025
- Lock-in Expiry: May 29, 2027
Impact Assessment
Market Impact: Medium - While the listing adds significant share capital (24.58 million shares), the immediate trading impact is limited as all shares are locked-in until May 29, 2027. The shares will not be available for trading until lock-in expiry.
Dilution Impact: Existing shareholders should note the equity dilution from this preferential allotment. The exact dilution percentage depends on the pre-issue share capital.
Promoter Holding: This preferential allotment to promoters pursuant to warrant conversion indicates promoter confidence and capital infusion. Promoter holding will increase, subject to disclosure in shareholding patterns.
Capital Raising: The approximately Rs. 3,640 crore capital raise strengthens Adani Green Energy’s balance sheet for renewable energy project expansion and debt reduction.
Long-term Impact: Post lock-in expiry in May 2027, the additional float may impact liquidity and price dynamics depending on promoter selling intentions.
Impact Justification
Significant equity dilution of 24.58 million shares with promoter participation, locked-in until May 2027, represents substantial capital raise but limited immediate trading impact due to lock-in period