Reliance Power’s shareholder has approved to raise funds worth Rs 2,000 crore by issuance of securities through Qualified Institutional Placement (QIP) for paring its debt. The funds would be utilised to reduce debt, including those of its subsidiaries, and for general corporate purposes of the company.
The proposed issue may be made in one or more tranches such that the aggregate amount raised does not exceed Rs 2,000 crore.
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.
