Adani Green Energy gets Approval to Raise Rs 2500 Crore

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Adani Green Energy has received shareholders’ approval to raise Rs 2,500 crore in its fifth annual general meeting held on Thursday. All resolutions proposed in the AGM held on June 25, 2020 are approved with the requisite majority by the shareholders, the company said in a regulatory filing.

The proposed resolution had sought the enabling authorisation of the members to the Board of Directors to raise funds to the extent of Rs 2,500 crore or its equivalent in one or more currencies, in one or more tranches, as per the notice for the AGM.

Internal Board’s Approval

The company also got shareholders’ nod to have the flexibility to infuse additional capital to tap capital markets and to raise additional long term resources, if necessary, in order to sustain rapid growth in the business, for business expansion and to improve the financial leveraging strength of the firm.

It was also proposed in the resolution that the board can raise the funds as may be considered appropriate by it by issuance of equity shares or any instruments or securities, including Global Depository Receipts or American Depository Receipts or convertible preference shares or convertible debentures or non-convertible debentures with warrants etc.

It has also received shareholders’ approval for re-appointment of Gautam S Adani as director.

The company also got approval to shift the existing registered office of the company, located at Adani House, Ahmedabad to Adani Corporate House situated in the same city.

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