Reliance Power approves issue of shares, warrants worth Rs 13.25 billion to RInfra

Reliance Power Limited’s board has approved a preferential issue of 595 million equity shares and 730 million warrants worth Rs 13.25 billion to Reliance Infrastructure.

With this, the shareholding of Reliance Infra and promoter group in Reliance Power will increase to 25 per cent after the issue of equity shares and the shareholding will further increase to over 38 per cent post-conversion of warrants. The shareholders of Reliance Power have also approved the raising of funds by issue of foreign currency convertible bonds up to 50 per cent of the then net-worth of the company, and securities through qualified institutions placement up to 25 per cent of the then net-worth of the company.

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