Adani Power Ltd approves issue of 52,30,00,000 warrants

The Board of Directors of Adani Power Ltd at its meeting held on April 06, 2016, approved Preferential offer and issue of up to 52,30,00,000 (Fifty Two Crores Thirty Lacs) Warrants, convertible into equivalent number of Equity Shares of Rs. 10/- each to the promoter group entities subject to the approval of the Members of the Company through postal ballot by way of passing special resolution under Section 42 and 62 of the Companies Act, 2013 and other necessary regulatory approvals.

The Warrants will be issued at a price not lower than the price arrived at as per the provisions of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended and on such further terms and conditions specified in the said Regulations.

The meeting commenced at 12:30 p.m. and concluded at 1:05 p.m.

Shares of ADANI POWER LTD. was last trading in BSE at Rs.34.2 as compared to the previous close of Rs. 33.85. The total number of shares traded during the day was 892055 in over 2078 trades.

The stock hit an intraday high of Rs. 34.55 and intraday low of 32.85. The net turnover during the day was Rs. 30083989.

Source : Equity Bulls

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