New Delhi (Economy India): Reliance Power Ltd., a part of the Anil Ambani-led Reliance Group, has received approval from its Board of Directors to raise up to Rs 9,000 crore through various financial instruments, the company informed the stock exchanges on Wednesday.
As per the regulatory filing, the board has also approved seeking shareholder consent to raise up to Rs 6,000 crore, indicating that the company may pursue both equity and debt instruments in phases depending on market conditions and funding needs.
“The Board of Directors, at its meeting held on July 16, has approved fundraising of up to Rs 9,000 crore through various financial instruments and approved seeking members’ consent for raising up to Rs 6,000 crore,” Reliance Power stated in its BSE filing.
The fundraising is expected to support the company’s efforts toward debt reduction, project financing, and capital expenditure in power and energy-related projects.
🔍 Purpose of Fundraising:
- Strengthen balance sheet and reduce debt
- Fund expansion and modernization of power infrastructure
- Explore opportunities in clean and renewable energy segments
- Improve overall financial flexibility
Reliance Power, once a key player in India’s thermal and renewable energy sectors, has been working on restructuring and reviving its financial health amid changing industry dynamics.
( Economy India )
