Page 2 - Reliance Power

Reliance Power share rises 5% as board to mull long-term fundraising

Reliance Power's board in a meeting on October 3 will consider raising long term resources

Reliance Power's subsidiary Rosa prepays Rs 850 cr debt to Varde Partners

The prepayment brings Rosa Power closer to achieving zero debt, following its parent company's debt-free status earlier this month

RPower seeks shareholders' nod to raise Rs 1,525 cr via preferential issue

Reliance Power will seek shareholders' approval to raise Rs 1,524.60 crore through a preferential issue. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company at a price of Rs 33 per share/warrant. The e-voting period that commenced earlier on Tuesday, will end on Wednesday, October 23, 2024. The result of the postal ballot will be announced on or before on Friday, October 25, 2024. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through a preferential issue where promoters will pour Rs 600 crore into the company to advance its business. Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Finan

Reliance Power hits 5% upper circuit after board's nod for fundraise

Reliance Power share price was locked in the 5 per cent upper circuit at Rs 40.06 per share on the BSE. The stock also reached its 52-week high on Tuesday

Reliance Power to raise Rs 1,525 crore through preferential issue

Parent entity Reliance Infrastructure to increase equity in R-Power by Rs 600 crore

Reliance Power board meeting on Sept 23; firm to consider fund raise

Anil Ambani's Reliance Group has in recent years seen marquee firms being auctioned in insolvency proceedings and piling debt-fold businesses. But the group has, in the week gone by, made announcements that investors believe may mark its transformation. In three days -- from September 18 to September 20 -- the group announced it has turned into nearly zero and is implementing long-term fund raising plans that are said to solidify its financial position. Reliance Infrastructure's board approved fund raising of up to Rs 6,000 crore via preferential issue and QIP, while Reliance Power board is meeting on September 23 to consider and approve the fundraise via multiple routes. The speed at which Anil Ambani moved to clear the debt of his companies, and simultaneously announce and execute the fund raising plans for future expansion of his companies, has surprised the investors. Shares of both firms surged on stock markets. The announcement to invest Rs 1,100 crore by the promoters group

RPower up 5%, hits 7-yr high ahead of board meeting to consider fundraise

Reliance Power shares are quoting higher for the eighth straight trading day, having surged 29 per cent during the period.

RInfra pares debt by 87% to Rs 475 cr; clears dues with banks and ARCs

RInfra said, "Invent Assets Securitisation and Reconst­ruction Private has novated certain charged securities to recover its dues"

Reliance Power shares lock in 5% upper circuit on bourses: Here is why

Reliance Power had announced that it has settled its obligations of Rs 3,872.04 crore towards the corporate guarantee of the lenders of Vidarbha Industries

RPower secures 500 MW storage contract marking entry into renewable energy

Other bidders in the auction included Avaada Energy, ACME Cleantech, Gensol, and Indigrid, with the highest quoted tariff reaching Rs 4.9 lakh per MW per month

Reliance Power bags 500 MW battery energy storage contract through auction

Reliance Power on Monday announced that it has secured a battery storage contract of 500 MW through the e-reverse auction (eRA) conducted by the Solar Energy Corporation of India (SECI). The auction, held on September 11, 2024, is part of SECI's initiative to enhance energy storage capabilities across the country. The contract involves the installation of a total of 1,000 MW of standalone BESS units, awarded on a build-own-operate (BOO) model for "On Demand" usage under a tariff-based competitive bidding process. Reliance Power has secured 500 MW MWh of this capacity, marking a significant entry into the renewable energy and storage sector, a company spokesperson said. The competitive bidding saw Reliance Power submitting a tariff bid of Rs 3.81999 lakh/MW/month. This new tariff benchmark represents one of the lowest rates for BESS tenders at the 400 KV level in India to date. The delivery point for the project shall be 400 kV Fatehgarh(ATL) PS, Rajasthan. The scheduled commissio

Liquidity galore in markets: Spotlight on IPOs in trillion-bid club

Bajaj Housing Finance IPO highlights history's highest-bid public offerings

ADAG stocks crack up to 10% as Sebi bans Anil Ambani from markets for 5 yrs

Sebi bans Anil Ambani news: According to a PTI report, Sebi has barred Anil Ambani, and 24 other entities, from the securities market for a period of five years

Adani Power to acquire Reliance Power's Butibori plant in Rs 3,000 cr deal

The deal is expected to be valued between Rs 2,400 crore and Rs 3,000 crore; Adani Power is negotiating with CFM Asset Reconstruction Co to acquire the project under Vidarbha Industries Power Ltd

Reliance Power Q1FY25 results: Net loss narrows to Rs 97.85 crore

Other income was Rs 76.95 crore compared with Rs 36.90 crore in the same quarter the previous year, a more than two-fold increase

Reliance Power Q1 results: Net loss narrows to Rs 98 cr on improved income

Reliance Power on Wednesday said its consolidate loss narrowed to Rs 97.85 crore during the June 2024 quarter, on account of improved income. It had reported a loss of Rs 296.31 crore in the April-June period of the preceding 2023-24 financial year, the company said in a regulatory filing. The company increased its income to Rs 2,069.18 crore from Rs 1,951.23 crore in the year-ago period. Shares of the company closed 2.01 per cent down at Rs 29.77 apiece on the BSE. Part of Reliance Group, the company has close to 6,000 MW of operational power generation assets.

Sebi penalises RInfra, others for non-submission of no default statement

Capital markets regulator Sebi on Wednesday imposed penalties on seven entities including Reliance Infrastructure, Reliance Power and Incredible Realcon for non-submission of no default Statement (NDS) to credit rating agencies. The regulator levied a fine of Rs 1 crore each on Reliance Infrastructure, Reliance Power and Incredible Realcon, Rs 20 lakh on Paranjape Schemes (Construction) Ltd, Rs 14 lakh on PVP Ventures, Rs 5 lakh on Hindustan Cleanenergy and Rs 1 lakh on Ginni Filaments. These firms have been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its 90-page order. The matter pertains to the requirement of listed entities who have issued debt securities or other entities who have chosen to list their debt securities, to file No Default Statement (NDS) to the Credit Rating Agencies (CRAs). Sebi's rule mandates the companies or issuers to submit the NDS information to CRAs on a monthly basis. "The non-filing of NDS may have

Reliance Power becomes debt free on standalone basis; clears pending dues

Reliance Power has become a debt-free company on a standalone basis clearing all outstanding dues to lenders, sources said. The company had a debt of around Rs 800 crore, which has been repaid to banks, they said. Between December 2023 and March 2024, Reliance Power signed multiple debt settlement agreements with various banks, including IDBI Bank, ICICI Bank, Axis Bank and DBS. The company has now repaid the entire debt to these banks, sources said. As a result of that, Reliance Power, on a standalone basis, has become a debt free company. In December 2023, Reliance power sold the development rights of its proposed 1,200 megawatt hydro-electric project in Arunachal Pradesh to THDC for Rs 128 crore. In March 2024, the company sold its 45 MW wind energy project in Vashpet, Maharashtra to JSW Renewable Energy for a consideration of Rs 132 crore. Proceeds from the sale of these projects were used to retire debt. With participation of over 38 lakh retail investors, Reliance Power has

Reliance Power Q4 results: Net loss at Rs 397 cr on increased fuel cost

Reliance Power Ltd on Saturday reported a consolidated loss of Rs 397.66 crore during the March quarter, mainly on account of increased cost of fuel consumed. It had posted Rs 321.79 crore profit in the year-ago period, the company said in an exchange filing. The company's total income, however, increased to Rs 2,193.85 crore from Rs 1,853.32 crore a year ago. Among expenses, its cost of fuel consumed increased to Rs 953.67 crore during the quarter from Rs 823.47 crore in the January-March period in 2022-23. For the full fiscal year, the company's losses widened to Rs 2,068.38 crore from Rs 470.77 crore loss in FY23. The board of the company also "approved authorisations of members for issuance of foreign currency convertible bonds (FCCBs) and securities through qualified institutional placement (QIP). These shall be in terms of the applicable rules, regulations, guidelines, and laws, including Securities and Exchange Board of India". Reliance Power has close to 6,000 MW of ...

Reliance Power's two subsidiaries settle debt worth Rs 1,023 crore

Reliance Power on Wednesday said its two subsidiaries have settled debt worth Rs 1,023 crore with Authum Investment's arm Reliance Commercial Finance. Reliance Power Ltd's two subsidiaries -- Kalai Power Pvt Ltd and Reliance Cleangen Ltd, have signed a debt settlement and discharge agreement with Reliance Commercial Finance Ltd (RCFL), a wholly-owned subsidiary of Authum Investment & Infrastructure Limited, a regulatory filing said. In a stock exchange disclosure, the company informed that the value of total outstanding debt that has been settled stood at Rs 1,023 crore. The debt settlement with Reliance Commercial Finance came a few days after Reliance Power announced the sale of its 45 MW wind power project in Maharashtra to JSW Renewable Energy, for a consideration of Rs 132 crore. In December 2023, Kalai Power had sold the development rights of its proposed 1,200 Megawatt hydro-electric project in Arunachal Pradesh to THDC India Ltd for Rs 128 crore. According to a company ...