Adani Power allots 2.74 cr shares to warrant holders

Adani Power today said it has alloted 2.74 crore equity shares, having face value of Rs 10 each, at a premium of Rs 22.54 per piece after warrant holders exercised their right to convert their debt into equity.
"The convertible warrant holders, to whom warrants were allotted in May 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares," Adani Power said in a BSE filing today.
"Consequently, Management Committee of the Board of Directors at its meeting held on February 22, 2017 has made allotment of total 2,74,27,353 Equity Shares of the face value of Rs 10 each (with a premium of Rs 22.54 per equity share) to the said convertible warrant holders," it added.

Earlier on February 16, 2017, the company had also made allotment of total 2,74,09,956 equity shares of the face value of Rs 10 each (with a premium of Rs 22.54 per equity share) to convertible warrant holders.