Strategic Move to Expand and Reduce Debt
Reliance Power has announced a ₹1,525 crore preferential share issue by offering 46.2 crore shares at ₹33 each. This move aims to enhance its net worth to ₹12,680 crore and reduce debt. With zero bank debt, the company plans to use these funds for business expansion and investment in its renewable energy sector. Promoters like Reliance Infrastructure will increase their stake by ₹600 crore.