Mumbai, India – The board of directors of Reliance Power Ltd., a part of the Anil Ambani-led Reliance Group, has given its nod to a significant fundraising plan of up to ₹6,000 crore. The decision, approved in a board meeting held yesterday after market hours, aims to bolster the company’s financial position and support its future growth initiatives
The company plans to raise these funds through the issuance of equity shares or equity-linked instruments. This could be facilitated via a Qualified Institutions Placement (QIP), a follow-on public offer (FPO), or a combination of both, targeting qualified institutional buyers. This strategic move is subject to obtaining necessary shareholder and regulatory approvals.
In addition to the equity raise, the board has also approved the issuance of secured or unsecured, redeemable, non-convertible debentures (NCDs) up to ₹3,000 crore, to be issued in one or more tranches through a private placement or other permissible methods. This combined equity and debt fundraising of up to ₹9,000 crore signals Reliance Power’s intent to strengthen its capital base and potentially expand its project pipeline.
