Adani Green has a beaming opening

about 6 years ago
No Image

 

There is one more Adani company which got listed on the bourses today morning. Adani Green got listed on the BSE at Rs.28 and even went down to Rs.27; from there is jumped up 9% and hit the 5% UC at Rs.28.80. On the NSE, the listing happened much higher at Rs.30 and even went up to Rs.31.50.

This is not an IPO listing but through a scheme of arrangement between Adani Enterprises Ltd (AEL) and Adani Green Energy Limited (AGEL), renewable power undertaking of AEL has been transferred to and vested in AGEL.

In consideration of the demerger, AGEL allotted 761 fully paid up equity shares of Rs 10 each of AGEL for every 1000 fully paid up equity shares of Re 1 each held in AEL.

The equity share capital of AGEL stands at Rs1,564 crore while promoter holding is at 86.6%.

Adani Green energy has an energy portfolio of 3.1GW of renewable capacity, of which 2GW is operational - 25% of this is tied up for 25 years under Purchase Price Agreements or PPAs.

This demerger and listing was done to simply the structure of the company.

Popular Comments