Feb 16, 2017 08:35 PM IST | Source: PTI

Adani Power allots 2.74 cr shares to warrant holders

"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," Adani Power said in a BSE filing today.

Adani Power allots 2.74 cr shares to warrant holders

Adani Power today said that it has alloted 2.74 crore equity shares with face value of Rs 10 at a premium of Rs 22.54 per piece after warrant holders exercised their right to convert their debt into equity.

"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," Adani Power said in a BSE filing today.

"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," it added.

* * * * * * Siemens wins order worth Rs 119 cr from Sterlite Power Grid * Siemens today said that it has bagged an order worth about Rs 119 crore from the Sterlite Power Grid Ventures for supply of equipment.

The order is for design, engineering, procurement, manufacture, supply and commissioning of equipment of 765/400 kV air insulated switchgear (AIS) substation in Khandwa in Madhya Pradesh and 765kV AIS bay extension equipment at Dhule in Maharashtra for Khargone Transmission Ltd.

* * * * * * India Ratings assigns UPPCL bonds stable outlook * India Ratings has assigned Uttar Pradesh Power Corporation Ltd's proposed bonds 'Provisional IND AA(SO)' with stable outlook.

"India Ratings and Research (Ind-Ra) has assigned UP Power Corporation Limited's (UPPCL) proposed Rs 100 billion bonds the 'Provisional IND AA(SO)' Outlook Stable," India Ratings said in a statement.

According to statement, the final rating is contingent upon the receipt of final documents conforming to the information already received by Ind-Ra.

It said that after the issuance of the proposed bonds, UPPCL (starting from the first day of each quarter of the interest/repayment schedule of the bonds to be issued) would daily remit an amount on a pro rata basis to the UPPCL bond servicing account.

Sections
Follow us on
Available On