Reliance Power Ltd board approves preferential issue, FCCB

The Board of Directors of Reliance Power Ltd at its meeting held today i.e. on Thursday, September 8, 2022, has approved, issuance of upto 60 crore equity shares and/or warrants convertible into equity shares through preferential allotment on a private placement basis to VFSI Holdings Pte. Limited, a foreign investor (Investor), at an Issue Price of Rs. 15.55 per share and/or warrant, aggregating to Rs. 933 crore and in this regard, to enter into an investment agreement with the Investor.

The board also approved seeking enabling authorisations of members for issuance of foreign currency convertible bonds up to US$ 200 million.

The Board also approved the notice convening the Extraordinary General Meeting to be issued to the members seeking approval for the above, as appropriate.

Source : Equity Bulls

Keywords

ReliancePower FundRaising PreferentialIssue PrivatePlacement FCCB RPOWER