Reliance Power Raises Rs 348 cr via Share Issue

New Delhi, May 7 (PTI) 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 capital infusion will strengthen company's growth trajectory in the renewable energy sector.

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

A minimum upfront amount of 25 per cent was paid on the warrants and the balance 75 per cent was payable in 18 months.

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

Reliance Power said it "maintains a zero-bank debt position, ensuring a strong, unleveraged balance sheet. This enhances financial flexibility and supports sustainable growth, positioning the company to capitalize on future opportunities and drive long-term value creation."

Part of Reliance Group, Reliance Power is a leading private sector power generation company with an operating portfolio of 5,305 megawatts, which includes 3,960 megawatts Sasan Power.