Reliance Velocity Ltd enters into agreement with Rosa Power Supply Company Ltd for borrowing Rs. 400 crore

Reliance Velocity Limited (RVL), a wholly owned subsidiary of Reliance Infrastructure Limited, has entered into an Agreement on April 5, 2024 with Rosa Power Supply Company Limited (Lender Company) for availing secured borrowing in the form of inter corporate deposits amounting to Rs. 400 crore.

The aforesaid borrowing transaction is a related party transaction and has been done on arm's length basis. The Company is the promoter group company for the Lender Company which is a wholly owned subsidiary of an associate of the Company.

Shares of Reliance Infrastructure Limited was last trading in BSE at Rs. 298.90 as compared to the previous close of Rs. 295.10. The total number of shares traded during the day was 497309 in over 6427 trades.

The stock hit an intraday high of Rs. 301.65 and intraday low of 284.90. The net turnover during the day was Rs. 145832327.00.

Source : Equity Bulls

Keywords

RelianceInfrastructure INE036A01016 RelianceVelocity Agreement RosaPowerSupplyCompany SecuredBorrowing