Azure Power’s Rights Issue Open For Subscription

EBENE, Mauritius — Azure Power Global Limited, a leading independent sustainable energy solutions provider in India, announced that its rights offering opened today for subscription to raise proceeds of up to $249,938,599. Pursuant to the rights offering, each shareholder of the Company will receive one non-transferable subscription right (a “Right”) for each equity share, par value $0.000625 per share (an “Equity Share”) held as of 5:00 p.m., Eastern Time, on January 6, 2022 (the “Record Date”). The rights offering will remain open until 5:00 pm Eastern Time on January 24, 2022, unless extended by the Company. The rights offering will be made only by means of a prospectus, and this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Company’s securities.