Adani Green Energy seeks shareholders' nod to raise Rs 2,500 crore

Adani Green Energy has sought it shareholders' nod to authorise the board of directors to raise Rs 2,500 crore in its fifth annual general meeting scheduled on June 25.

The proposed resolution seeks the enabling authorisation of the members to the Board of Directors to raise funds to the extent of Rs 2,500 crore or its equivalent in any one or more currencies, in one or more tranches, the notice for the AGM said.

The company proposes to have flexibility to infuse additional capital to tap capital markets and to raise additional long term resources, if necessary, in order to sustain rapid growth in the business, for business expansion and to improve the financial leveraging strength of the firm, it added.

The resolution also proposed that board can raise the funds as may be considered appropriate by it by issuance of equity shares or any instruments or securities, including Global Depository Receipts or American Depository Receipts or convertible preference shares or convertible debentures or non-convertible debentures with warrants etc.

It has also proposed a resolution to appoint a director in place of Gautam S Adani, who retires by rotation and being eligible offers himself for re-appointment.

The company has also sought shareholder nod to shift the existing registered office of the company’s, located at Adani House, Ahmedabad to Adani Corporate House situated in the same city.