Reliance Power has sought shareholders’ approval to raise up to Rs 2,000 crore by issuance of securities or shares through qualified institutional placement (QIP). The funds raised would be utilized to strengthen financial position of the company by reduction of debt of the company and of its subsidiaries and for general corporate purposes.
The board of directors at its meeting held on February 28, 2018 has approved the Postal Ballot notice to be sent to shareholders seeking their enabling authorization for the same.
Reliance Power, a part of the Reliance Group, is India’s leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy.
