Rosa Power Supply Company Ltd to raise debt of Rs. 400 crore

Rosa Power Supply Company Limited, having 1200 MW thermal power generation plant and a Wholly Owned Subsidiary of the Company has executed definitive documents on April 05, 2024 to raise debt of Rs 400 crore from Credit Solutions India Trust, subject to satisfaction of customary conditions precedent and is secured by the Corporate Guarantee by the Company, which will be a contingent liability of the Company. Credit Solutions India Trust does not hold any share in the Company and is neither a related party nor part of the Promoter Group.

The proceeds of debt raised shall be utilized for giving Inter Corporate Deposits to Reliance Velocity Limited (RVL), a Promoter Group Company at arm's length basis. Reliance Infrastructure Limited, the holding company of RVL, holds 23.15% equity shares of the Company.

Shares of Reliance Power Limited was last trading in BSE at Rs. 32.58 as compared to the previous close of Rs. 33.43. The total number of shares traded during the day was 12332010 in over 34422 trades.

The stock hit an intraday high of Rs. 34.35 and intraday low of 31.76. The net turnover during the day was Rs. 403608909.00.

Source : Equity Bulls

Keywords

ReliancePower INE614G01033 RPOWER ElectricUtilities RosaPowerSupplyCompany Agreement FundRaising CreditSolutionsIndiaTrust