The stock jumped 5 per cent to hit a fresh 52-week high of Rs 44.16. At this price, it has surged 49.34 per cent in 11 trading days.

The firm has reaffirmed its status as a debt-free entity on a standalone basis and expressed plans to explore growth opportunities, especially in the renewable energy sector

Rosa Power aims to settle its remaining debt in the next quarter, completing the process before the end of FY25. Shares of Reliance Power Ltd ended at ₹42.06, up by ₹2, or 4.99%, on the BSE.

The stock hit its 5 per cent upper circuit limit at Rs 40.06. With this, the stock is up 35.48 per cent in nine sessions and 67 per cent in 2024 so far.

Reliance Power's obligations as a guarantor on behalf of Vidarbha Industries Power have been fully settled, resulting in the release of all obligations related to the debt of Rs 3,872.04 crore.

The preferential allotment will increase Reliance Power's net worth from ₹11,155 Crore to above ₹12,680 Crore, according to a filing.

Reliance Power shares have shown strong performance across multiple time frames, delivering a 10.64% return in the past month and a 38.22% increase over six months. Year-to-date, the stock has surged 59.

Reliance Power shares surged 5% after the company announced a preferential issue of equity shares worth Rs 1,524.60 crore, aimed at strengthening its financial position and expanding into renewable energy.

The proceeds from the preferential issue will be utilised to expand business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes,

Reliance Infrastructure would hold 24.88 per cent and the aggregate shareholding of the promoter group would be 24.95 per cent of the paid-up equity share capital of the company post the allotment.