Adani Power has allotted a total of 478.65 million equity shares to promoter group on preferential basis, taking the total holding in the company higher to 75% from 70% earlier. With the preferential allotment to promoter group, Adani Power has raised around Rs 2,542 crore.
The company has allotted 449.8 million equity shares to Adani Enterprises (the holding company) and 28.8 million shares to Vinod Adani (a part of promoter group) at a price of Rs 53.11 per share (including premium of Rs 43.11 per share) on preferential basis. Consequent to allotment, paid up share capital of the company has been increased to Rs 2871.92 crore.
Further, the company is also reportedly planning to raise funds of Rs 3,000 crore through ECB route, at an interest rate of 6.5-7%, which the company would use for refinancing some of its projects, mainly for reducing its interest cost by 5%. The company will be raising fund from Chinese bank to refinance Tiroda Debt which is likely to be around Rs 4,000-5,000 crore. Meanwhile, Standard Chartered is the arranger of the loan.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
| View more.. | |
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