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Reliance Power board approves preferential issue of Rs 1,524 crore
Mumbai/IBNS: Reliance Power’s board on Monday (Sept. 23) approved a plan to raise Rs 1,524.60 crore through a preferential issue of 462 million equity shares or warrants, convertible into an equivalent number of shares at Rs 33 per share or warrant,
Reliance Power hits 5% upper circuit as board approves Rs 1,524.60 cr preferential issue
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 stock locked at 5% upper circuit on Rs 1,525 crore preferential issue
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.
Reliance Power shares surge 5% as board approves Rs 1,525 crore preferential issue
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 Power shares in focus on Rs 1,525 crore preferential issue; key details
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.
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