Reliance Power to Raise Rs 1,525 Crore Through Preferential Issue

Reliance Power Ltd is set to raise Rs 1,525 crore through a preferential issue. Promoters, including Reliance Infrastructure, will contribute Rs 600 crore. The funds will be used for business expansion, debt reduction, and general corporate purposes. The move will enhance the company's net worth and support its venture into renewable energy.

Reliance Power Ltd's board approved a Rs 1,525 crore fundraising effort via a preferential issue, with Rs 600 crore coming from promoters.

This decision follows a similar move by Reliance Infrastructure, which aims to raise Rs 6,000 crore.

Reliance Power plans to use the raised capital for business expansion, debt reduction, and general corporate purposes, while boosting its net worth and supporting its renewable energy projects.

(With inputs from agencies.)