BusinessEconomyFinanceNews RELIANCE POWER LIMITED BOARD APPROVES PREFERENTIAL ISSUE OF SHARES by News Monks June 13, 2021 June 13, 2021 Bookmark A+A- Reset Share 0FacebookTwitterPinterestEmail 38 The Board of Directors of Reliance Power Limited at its meeting held today has approved Preferential Issue of upto 59.5 Crore equity shares and upto 73 Crore warrants convertible into equivalent number of equity shares of the Company at an Issue Price of Rs. 10 each by conversion of debt, aggregating upto Rs.1,325 Crore to Reliance Infrastructure Limited, a listed promoter company. This will reduce Reliance Power standalone debt by Rs. 1,325 Crore and along with planned debt reduction in subsidiaries, Reliance Power consolidated debt will reduce by ~Rs. 3200 Crore in FY22. Reliance Infrastructure and other promoter holding in Reliance Power will increase upto 25% after issue of equity shares and will further increase to over 38% on conversion of warrants, benefitting ~ 8 lakh shareholders of Reliance Infrastructure. The Board also approved seeking enabling authorisations of members for issuance of (i) foreign currency convertible bonds; and (ii) securities through qualified institutions placement. The Board approved seeking approval of the members of the Company for the above through Postal Ballot. The above shall be subject to all requisite permissions, sanctions and approvals as may be necessary. You Might Also Like AU Bank installs solar power grid at Akshay Patra Mega Kitchen NCL Donates Rs. 5 Crores to Uttar Pradesh for Purchase of 50 Ambulances AAP holds business conclave in Ahmedabad, discuss burning issues facing trade & industry AU Small Finance Bank rolls out the most comprehensive employee well-being programme Related RELIANCE Share 0 FacebookTwitterPinterestEmail previous post Identify people by their intentions, not by their actions next post PAYBACK India Supports YouWeCan’ Mission1000Beds You may also like Bookmark Jigna Vora’s journey comes to an end on COLORS’ ‘BIGG BOSS’ November 30, 2023 Bookmark Embracing Dharma for Unity and Prosperity: Mata Amritanandamayi Devi’s Call Echoes at... November 30, 2023 Bookmark Shri Siddaramaiah, Hon’ble Chief Minister of Karnataka inaugurates Bengaluru Tech Summit 2023:... November 30, 2023 Bookmark Mr. Atul P Patel, Vice Chairman of IMPPA discussed with Dr. Pramod... November 30, 2023 Bookmark Pravaha’, the NCPA’s forthcoming dance festival, set to premier acclaimed Indian and... November 30, 2023 Bookmark NueGo by GreenCell Mobility announces an exciting collaboration with Telugu film “Hi... November 30, 2023 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email. Notify me of new posts by email.