RPower seeks shareholders' nod to raise Rs 1,525 cr via preferential issue

Quick Summary:

According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company at a price of Rs 33 per share/warrant.

On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through a preferential issue where promoters will pour Rs 600 crore into the company to advance its business.

Reliance Power will seek shareholders' approval to raise Rs 1,524.60 crore through a preferential issue.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Reliance Power Preferential issue Fund raising E-voting Shareholder

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-24 @ 13:23:49 (4 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 311 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22692303

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