Reliance Power Limited would raise Rs 9.33 billion by offloading a 15 per cent stake in the company to VFSI Holdings Pte. Limited.
For this, the Board of Directors of Reliance Power has approved issuance of upto 600 million equity shares and/or warrants convertible into equity shares through preferential allotment on a private placement basis to VFSI Holdings Pte. Limited, a foreign investor, and to enter into an investment agreement with VFSI.