Reliance Power Ltd allots 10,65,44,000 equity shares to Reliance Infrastructure Ltd

Reliance Power Limited has today issued and allotted 10,65,44,000 equity shares of Rs. 10 each, fully paid up to Reliance Infrastructure Limited, upon exercise of its right to convert the equivalent number of warrants held by it, by conversion of existing debt to the extent of balance 75% of the issue price.

The aforesaid equity shares shall rank pari passu in all respect with the existing equity shares of the Company. 39,49,20,500 warrants remain unexercised and the amount stands forfeited.

Reliance Power is India’s leading private sector power generation and coal resources company. Reliance Power has one of the largest portfolios of power projects in the private sector in India, based on coal, gas and renewable energy, with an operating portfolio of 5,945 megawatts.

The above conversion will not result in any change in management and control of Reliance Power.

Shares of Reliance Power Limited was last trading in BSE at Rs. 14.17 as compared to the previous close of Rs. 13.92. The total number of shares traded during the day was 2079086 in over 2161 trades.

The stock hit an intraday high of Rs. 14.27 and intraday low of 13.85. The net turnover during the day was Rs. 29182103.00.

Source : Equity Bulls

Keywords

ReliancePower INE614G01033 SharesAllotment WarrantsConversion RelianceInfrastructure