Reliance Power shareholders approve preferential offer to RInfra with over 94% votes in favour
New Delhi
14-July-2021

Photo: IANS
The shareholders of Reliance Power Limited (Reliance Power), through postal ballot, have approved with overwhelming majority, preferential issue of equity shares and warrants.
Reliance Infrastructure and other promoter group holding in Reliance Power shall increase to 24.98% and shall further increase to 38.24 per cent on conversion of warrants, benefitting ~ 8 lakh shareholders of Reliance Infrastructure.
The shareholders of Reliance Power have also approved with overwhelming majority, the raising of funds by issue of: (i) foreign currency convertible bonds upto 50% of the then net-worth of the Company, and (ii) securities through qualified institutions placement upto 25% of the then net-worth of the Company.
Reliance Power Limited, a part of the Reliance Group, is India's leading private sector power generation and coal resources company. The company has one of the largest portfolios of power projects in the private sector in India, based on coal, gas and renewable energy, with an operating portfolio of 5,945 megawatts.-IANS
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