Reliance Power Ltd's subsidiaries to lend Rs. 425 crore to Reliance Velocity Ltd

Rosa Power Supply Company Limited and Tato Hydro Power Private Limited (Lending Companies), wholly owned subsidiaries of the Company have entered into the respective Agreements on March 28, 2024 with Reliance Velocity Limited (Borrowing Company), a wholly owned subsidiary of Reliance Infrastructure Limited, the Promoter Company, for lending secured borrowings in tranches in the form of inter corporate deposits aggregating to Rs 425 crore.

The aforesaid lending transactions are related party transactions and have been done on arm's length basis. The Promoter Company holds 23.15% equity shares in the Company.

Shares of Reliance Power Limited was last trading in BSE at Rs. 28.23 as compared to the previous close of Rs. 27.67. The total number of shares traded during the day was 4400470 in over 16372 trades.

The stock hit an intraday high of Rs. 28.50 and intraday low of 28.00. The net turnover during the day was Rs. 124771239.00.

Source : Equity Bulls

Keywords

ReliancePower INE614G01033 RPOWER ElectricUtilities RosaPowerSupplyCompany TatoHydroPower Agreement RelianceVelocity ICDs