Reliance Power allots 10.55 crore shares aggregating Rs. 348.15 crore

Reliance Power Limited (Reliance Power) has allotted 10.55 crore fully paid-up equity shares at a price of ₹33 per share (including a premium of ₹23 per share) aggregating to ₹348.15 crore, upon accelerated conversion of Warrants.

The Company made a Preferential Issue of 46.20 crore Warrants aggregating Rs. 1,525 crore in October 2024, in terms of SEBI (ICDR) Regulations. A minimum upfront amount of 25% was paid on the Warrants and the balance 75% amount was payable in 18 months. Fully paid Warrants are convertible into equivalent number of equity shares.

Upon accelerated conversion of Warrants, the Company has issued 9.55 crore equity shares to Reliance Infrastructure Limited (Promoter) and 1 crore equity shares to Basera Home Finance Private Limited (Public).

The capital infusion will strengthen Company's growth trajectory in renewable energy sector.

Reliance Power maintains a zero-bank debt position, ensuring a strong, unleveraged balance sheet. This enhances financial flexibility and supports sustainable growth, positioning the company to capitalize on future opportunities and drive long-term value creation.

Shares of Reliance Power Limited was last trading in BSE at Rs. 39.11 as compared to the previous close of Rs. 38.26. The total number of shares traded during the day was 9221707 in over 15925 trades.

The stock hit an intraday high of Rs. 39.61 and intraday low of 37.33. The net turnover during the day was Rs. 357888573.00.

Source : Equity Bulls

Keywords

ReliancePower INE614G01033 RPOWER SharesAllotment WarrantsConversion