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Corporate News
14-Jun-21
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Board of Rel Infra approves subscription to preferential issue of RPower
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At meeting held on 13 June 2021
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The Board of Directors of Reliance Infrastructure at its meeting held on 13 June 2021 approved the subscription of preferential issue of up to 59.5 crore equity shares and up to 73 crore warrants convertible into equivalent number of equity shares of Reliance Power (Reliance Power), by conversion of outstanding debt including interest aggregating up to Rs. 1,325 crore.
The Preferential Issue by Reliance Power shall be made at an Issue Price of Rs. 10 per Share, as per SEBI (ICDR) Regulations.
Shareholding of Reliance Infra and promoter group in Reliance Power will increase to ~ 25% after the issue of equity shares and will further increase to over 38% post conversion of warrants.
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