Latest News | RPower Board Approves Raising Up to Rs 9,000 Cr

New Delhi, Jul 16 (PTI) Reliance Power on Wednesday said its board has approved raising up to Rs 9,000 crore through various financial instruments.

The company's "board of directors approved seeking enabling authorisation from the members for raising funds up to Rs 6,000 crore through the issuance of equity shares and/or equity linked instruments and/or other eligible securities to qualified institutional buyers by way of a Qualified Institutions Placement and /or follow on public offer or a combination thereof," according to a regulatory filing.

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It also approved issuance of secured/ unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or otherwise, the filing said.

The issue of these securities is subject to requisite permissions, sanctions and approvals, and as per the applicable provisions of law, it added.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)