Rosa Power, prepays another Rs. 485 crore debt to Varde Partners, becoming zero-debt company

Rosa Power Supply Company Limited (Rosa Power), a subsidiary of Reliance Power Limited (Reliance Power), has prepaid Rs.485 crore loan to Singapore-based lender Varde Partners.

By prepaying this loan, Rosa Power, has achieved a zero-debt status, fully settling its outstanding debt by payment of Rs.1,318 crore to Varde ahead of the original schedule.

Earlier in September, Rosa Power had prepaid Rs. 833 crore to Varde Partners.

Rosa Power, operates a 1,200 MW coal-based thermal power plant in Rosa village near Shahjahanpur, Uttar Pradesh.

The strengthening of Rosa Power's balance sheet, along with a recent Rs.1,525 crore equity linked warrants preferential issue, will support Reliance Power in pursuing business opportunities, in the fast-growing clean green renewable energy sector.

This preferential Issue will boost the Company's net worth from Rs 11,155 crore to over Rs 12,680 crore. The listed entity has zero bank debt.

Shares of Reliance Power Limited was last trading in BSE at Rs. 43.47 as compared to the previous close of Rs. 41.40. The total number of shares traded during the day was 1331213 in over 4518 trades.

The stock hit an intraday high of Rs. 43.47 and intraday low of 41.20. The net turnover during the day was Rs. 56568036.00.

Source : Equity Bulls

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ReliancePower INE614G01033 RPOWER RosaPower Debt PrePayment DebtFree