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Adani Power has alloted 2.74 crore equity shares with a face value of Rs 10 at a premium of Rs 22.54 per piece after warrants holders exercised their right to convert their debt into equity.
Adani Power has said in a BSE filing that “The convertible warrant holders, to whom the warrants were allotted in the month of May, 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares.”
It added that “Consequently, management committee of the board of directors of the company at its meeting held on February 16, 2017 has made allotment of total 2,74,09,956 equity shares of the face value of Rs 10 each (with a premium of Rs 22.54 per equity share) to the said convertible warrant holders.”
