Indian billionaire Gautam Adani’s renewable energy unit got board approval to raise as much as 93.5 billion rupees ($1.6 billion) by issuing share warrants to its founders as the company charts ambitious growth plans and braces for bond repayments next year.
Adani Green Energy’s board approved the plan to issue 63.1 million warrants at 1480.75 rupees each, according to an exchange filing on Tuesday, confirming an earlier Bloomberg News report.
