Adani Power raises Rs 2,500 cr via preferential share issue

478 mn shares allotted to promoter group entities, Adani Enterprises and Vinod S Adani at Rs 53.11 apiece

Adani Power today said it has raised more than Rs 2,500 crore through issue of shares on preferential basis to two promoter group entities.

More than 478 million shares have been allotted to promoter group entities -- Adani Enterprises Ltd and Vinod S Adani. Each scrip was priced at Rs 53.11, according to a regulatory filing.

The private power producer has raised over Rs 2,542 crore from the issue of shares to these two entities.

The firm allotted 44,98,50,000 shares to Adani Enterprises, which is also the promoter-holding company and 2,88,00,000 shares to Vinod S Adani, who is part of the promoter group.

These scrips have been issued on preferential basis at a premium of Rs 43.11 per piece.

"Consequent to above allotment, paid up share capital of the company has been increased to Rs 2,871,92,21,100," the filing said.

Shares of the company were trading nearly one per cent down at Rs 57.25 in late afternoon trade on the BSE.