Reliance Power has decided to raise Rs 1,325 crore by issuing preferential shares and warrants to its parent Reliance Infrastructure. Its board of directors has approved preferential issue of upto 59.5 crore equity shares and upto 73 crore warrants convertible into equivalent number of equity shares at an issue price of Rs 10 each by conversion of debt.
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.
