Adani Green Energy To Consider Raising Funds On Dec. 26

Adani Green Energy Ltd. will consider a proposal to raise funds via multiple instruments.

The company's board will meet on Dec. 26 to consider and evaluate a proposal for raising funds by issuing equity shares, convertible securities or any other eligible securities, the company said in its exchange filing on Wednesday.

The trading window shall remain closed with effect from Dec. 21 till 48 hours after the closure of the meeting to be held on Dec. 26, under the code of conduct for prohibition of insider trading.

Adani Green Energy also incorporated three of its wholly-owned step-down subsidiary companies on Wednesday.

Adani Saur Urja (KA) Ltd. incorporated its wholly-owned subsidiaries, namely Adani Renewable Energy Fifty Two Ltd., Adani Renewable Energy Fifty Three Ltd., and Adani Renewable Energy Fifty Four Ltd.

The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sell and supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy, the company said.

All three subsidiaries have an authorised and paid-up capital of Rs 1 lakh each.

Shares of Adani Green Energy closed 5.21% lower at Rs 1,452.15 apiece on the NSE, as compared with a 1.41% decline in the benchmark Nifty 50.

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