Adani Green subsidiaries sign share subscription agreement
Adani Green Energy Limited (ADANIGREEN) announced today that its subsidiaries, Adani Renewable Energy Holding Nine Limited (AREH9L) and Adani Renewables Energy Three Limited ("Generator"), along with DC Development Noida Limited ("Captive User"), have signed a Share Subscription and Shareholders' Agreement ("SSHA") effective February 25, 2025. The agreement pertains to a power consumption arrangement, previously announced on October 3, 2024. Per the SSHA, Captive User will invest at least 26% of the issued, subscribed and paid-up equity share capital of the Generator to meet the minimum captive shareholding. Following completion, AREH9L will hold 70.12% of Generator while Captive User will hold 29.88%. AREH9L retains the right to appoint all directors to the Board of Generator. AREH9L and Generator are wholly-owned and step-down subsidiary companies in the Adani Group. The transaction is classified as a related party transaction, to be undertaken at arm's length.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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