This brings the company’s total cash collected to $3 billion, following a $1.4 billion debt raise earlier this month.
The board of Adani Green Energy has approved the issuing of preferred warrants worth Rs 9,350 crore to the promoter, according to an exchange filing. The warrants will be granted to the promoter group for $1,480.75 each. Adani Green intends to use the money to deleverage its financial sheet and accelerate growth expenditures in order to meet its 45 GW capacity target by 2030.
The $1.4 billion overall capital injection will also include a $300 million infusion from the TotalEnergies JV. This brings the company’s total cash collected to $3 billion, following a $1.4 billion debt raise earlier this month. The issuance is subject to approval by regulatory and legislative authorities, as well as the company’s shareholders, who will vote on the proposal at the company’s Extraordinary General Meeting (EGM) on January 18, 2024.
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Previously, the business announced a $1.36 billion construction facility from eight foreign banks for solar power projects totaling 2,167 MW at Khavda in Gujarat, the country’s largest solar park. The company further noted that with 20.6 GW of locked-in capacity, over 2 lakh acres of land, and this equity infusion, it is now well positioned to meet its stated target of 45 GW by 2030.
“With the funds infused, Adani Green remains favourable positioned to achieve its accelerated growth trajectory,” Adani Group Chairman Gautam Adani was quoted as saying. Adani Green Energy shares have reached the day’s high, trading 4.4% higher at 1,600.
Frequently asked questions
What is the promoter holding of Adani Green?
Who is the owner of Adani Green? The following are the significant changes to Adani Green’s shareholding: The promoter’s stake has dropped from 60.5 percent (30 June 2022) to 56.27 percent (30 June 2023). Domestic institutional investors’ holdings have increased from 0.98 on 30 June 2022 to 1.47 on 30 June 2023.
What is the strategy of Adani Green Energy?
To ease the transition to a greener economy, we want to create 45 GW of renewable energy capacity by 2030. Our commitment to developing cutting-edge technology to enable exponential growth strengthens our strategic priorities.
What is the total asset of Adani Green Energy?
Total balance-sheet assets as of September 2023: $8.60 billion. Adani Green Energy’s total assets are $8.60 billion, according to the company’s latest financial filings. The total assets of a corporation are the sum of all current and non-current assets, such as inventory, cash and cash equivalents, real estate, and equipment.
What is the cost of equity in Adani Green?
The cost of equity for Adrian Green is 10.41%, computed using the formula Risk-Free Rate + Beta x ERP.
Is Adani Green a good company to invest in?
Adani Green Energy has a TTM P/E ratio of 125.13, while the sector P/E is 19.31. Adani Green Energy has received coverage from one analyst. There are 0 analysts who rate it as a strong buy, and 0 analysts who rate it as a buy. The stock has a sell rating from 0 analysts.
What is the future of Adani Green Energy?
The goal is to increase this 20,434 MW (operational plus underconstruction projects) to 45,000 MW, or 45 GW, by 2030, they added, adding that AGEL plans to create approximately 3 GW of solar and wind energy capacity per year.
Will Adani Green bounce back?
Almost 11 months after the Hindenberg lawsuit, the Adani Group has risen from the ashes, giving its investors nearly 46% gains since November. Adani total gas, Adani green energy, and Adani power have been quite profitable for investors and have recovered from the Hindenberg setback.
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