Adani Power Ltd approves allotment of 28059928 Equity Shares

The convertible warrant holders, to whom the warrants were allotted in the month of May, 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares. Consequently, Management Committee of the Board of Directors of Adani Power Ltd at its meeting held on October 27, 2016 has made allotment of total 28059928 Equity Shares of the face value of Rs. 10/- each (with a premium of Rs. 22.54 per equity share) to the convertible warrant holders.

Upon allotment of these equity shares; the paid up equity share capital of the Company has increased to Rs. 34,74,18,38,160/- (Rupees Three thousand Four hundred and Seventy Four crores Eighteen lakhs Thirty Eight thousand One hundred Sixty only) comprising of 3,47,41,83,816 equity shares of the face value of Rs. 10/- each.

Subsequent to this allotment, the shareholding of the Promoter and Promoter Group has increased to 64.616% of the enhanced paid up equity share capital of the Company.

Shares of ADANI POWER LTD. was last trading in BSE at Rs.26.8 as compared to the previous close of Rs. 26. The total number of shares traded during the day was 1746971 in over 2462 trades.

The stock hit an intraday high of Rs. 27.2 and intraday low of 25.7. The net turnover during the day was Rs. 46372972.

Source : Equity Bulls

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