Reliance Power raises ₹348 crore via preferential share allotment

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Reliance Power raises ₹348 crore via preferential share allotment - Business Standard

Quick Summary:

Reliance Power on Wednesday said it has raised Rs 348.15 crore through preferential issue of shares.The company said 9.55 crore equity shares were issued to Reliance Infrastructure (promoter) and 1 crore shares to Basera Home Finance Private Limited (public).The 10.55 crore fully paid-up equity shares have been issued at a price of Rs 33 per share (including a premium of Rs 23 per share) aggregating to Rs 348.15 crore, it said.

The company made a preferential issue of 46.20 crore warrants aggregating Rs 1,525 crore in October 2024.

Fully paid warrants are convertible into equivalent number of equity shares.