Adani Green Energy gets shareholders' nod to raise Rs 50 billion

The shareholders also approved a proposal to increase the Authorised Share Capital to Rs 25 billion divided into 2.5 billion equity shares of Rs 10 each

Adani Green Energy has got shareholders approval to raise funds up to Rs 50 billion by the issuance of equity shares, GDR, ADR or debentures in its annual general meeting held yesterday.

The proposed resolution sought the enabling authorisation of the members to the Board of Directors to raise funds to the extent of Rs 50 billion in any one or more currencies, in one or more tranches by issuance of equity shares or any instruments or securities or convertible preference shares or convertible debentures or non-convertible debentures was passed by requisite majority at the AGM, the company stated in a BSE filing.

Besides, the shareholders also approved a proposal to increase the Authorised Share Capital from Rs 16 billion divided into 1.6 billion equity shares of face value of Rs 10 each to Rs 25 billion divided into 2.5 billion equity shares of Rs 10 each ranking pari-passu in all respect with the existing equity shares of the company.