Reliance Power alongwith its subsidiary to raise up to Rs 12 billion from Varde Partners

Reliance Power Limited along with its subsidiary has entered into a indicative memorandum of understanding with investment firm Varde Partners for availing debt of up to Rs 12 billion.

The proceeds will be used for settlement and discharge, acquisition and restructuring of certain financial debt availed by Reliance Power. The drawdown of the debt will be subject to finalisation and execution of binding documents and all requisite approvals including regulatory approvals as per applicable rules/ laws/ regulations.