Adani Transmission Ltd said it received shareholders’ approval for issuance of 1.56 crore shares worth around Rs 3,850 crore on a preferential basis to Green Transmission Investment Holding RSC Ltd.
At present, IHC Capital Holding LLC is the principal shareholder of Green Transmission Investment Holding RSC Ltd.
At an extra-ordinary general meeting convened on Tuesday, shareholders approved the issuance of equity shares on preferential basis to Green Transmission Investment Holding RSC Ltd, according to a regulatory filing.
In a separate filing, the company said it executed a share subscription agreement on Monday with Green Transmission Investment Holding RSC for the issuance and allotment of 1,56,82,600 equity shares of face value of Rs 10 each to the investor on preferential basis.
A total of 1,56,82,600 equity shares will be issued at a price of Rs 2,454.95 per equity share (at a premium of Rs 2,444.95 apiece), the filing said.
The total issue size works out to be around Rs 3,850 crore.
The deal is part of the 7.3 billion dirham (USD 2 billion) investment to be made by UAE’s International Holding Company (IHC) in three Adani Group firms.
IHC will invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL) and Rs 7,700 crore in Adani Enterprises Ltd (AEL).
Source: Business-Standard