NEW DELHI: Adani Green Energy (AGEL) made a decent debut on the BSE on Monday as the scrip climbed 5 per cent.It hit a high of Rs 29.40 early today.
The scrip has been admitted to the 'T' group of securities on the exchange.Last year, Adani Enterprises had announced demerger of its renewable energy business into associate company Adani Green Energy as part of its efforts to simplify the overall business structure.With effect from April 1, the renewable power undertaking of Adani Enterprises was demerged, transferred and vested in AGEL, on a going concern basis.
On April 8, AGEL has allotted 761 shares of Rs 10 each of AGEL credited as fully paid-up for every 1,000 Adani Enterprises' shares held by latter's shareholder.Adani Enterprises had fixed April 6 as record date for the purpose of ascertaining the names of the shareholders who will be eligible to receive shares pursuant to the scheme of demerger.