Adani Green Energy has released its Monitoring Agency Report for the quarter ended September 30, 2025 (Q2 2026). The report, related to funds raised through convertible warrants on a preferential basis, indicates that funds are being utilized as per the disclosures in the offer document. No deviations have been observed, as confirmed by the Monitoring Agency, India Ratings & Research Private Limited.
Monitoring Agency’s Key Findings
India Ratings & Research Private Limited, the Monitoring Agency, issued its report on November 13, 2025, for Adani Green Energy. This report covers the quarter ending September 30, 2025 (Q2 2026). The focus is on the utilization of funds raised through the issuance of convertible warrants on a preferential basis.
No Deviations Observed
The report confirms that there have been no deviations from the objects stated in the offer document. This assessment is based on management representations, a Statutory Auditor Certificate dated November 5, 2025, and other provided documents. All utilized funds are aligned with the initial disclosures.
Fund Allocation Details
The funds were intended for debt repayment (₹4,675.00 Crores), investment in renewable projects (₹2,338.00 Crores), and general corporate purposes (₹2,337.00 Crores). The monitoring agency’s assessment shows alignment with this allocation.
Specific Fund Utilization
Out of the amount allocated for investment in renewable projects, ₹1,155.00 Crores was invested in a step-down subsidiary of the company. On the same day, this amount was transferred back to the company as an advance against contracts awarded by the subsidiary for supplying renewable energy project related goods.
For general corporate purposes, ₹148.59 Crores was used for repayment of Inter Corporate Deposit (ICD) of Adani Properties Pvt Ltd, availed by the subsidiary on June 30, 2025.
Source: BSE
