The company said it issued 955,000 shares to Reliance Infrastructure and 10 million shares to Basera Home Finance Private Limited (Publy).
Reliance Power, led by Anil Ambani, increased its shareholding by Rs 3,481.5 crore. The company said it issued 955,000 shares to Reliance Infrastructure and 10 million shares to Basera Home Finance Private Limited (Public). It said the price of Rs 33 per share (including a premium of Rs 23 per share) was aggregated to Rs 34.815 crore, with Rs 1.05 crore in shares issued. The Reliance infrastructure is part of the controlling shareholders of Reliance Group and Reliance Power led by Anil Ambani.
Capital infusion will strengthen the company's growth trajectory in the renewable energy sector. The company proposed a priority offering of Rs 462 billion in October 2024, with the contracts aggregated Rs 152.5 billion. The minimum upfront amount for the arrest warrant is 25%, and the balance should be paid 75% within 18 months. Fully paid warrants can be converted into an equal number of equity shares.
“Keep zero-bank debt positions, ensuring a strong, unmaintained balance sheet. This can increase financial flexibility and support sustainable growth and position companies to capitalize on future opportunities and drive long-term value creation.”
Reliance Power currently has a market capitalization of Rs 157,020 crore, with the company's share as of May 7 at Rs 39.19 and NSE earnings of 2.46%. The company was established to develop, build, operate and maintain power projects in the Indian and international markets.
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