2 weeks Ago
Reliance Power Ltd's board of directors is to consider a stake sale to raise funds in the company's upcoming board meeting on Thursday, October 3, according to the company's BSE filing on Friday evening. The company aims to raise money from the domestic or global markets by issuing stakes in the form of shares, equity-linked securities, warrants convertible into equity shares, preferential issues, or a rights issue, whichever the board of directors approve, according to the company filing. “We wish to inform you that a meeting of the board of directors of the company will be held on Thursday, October 03, 2024, inter alia, to consider and approve raising of long term resources from domestic and/or global markets, inter alia, by issue of equity shares/equity linked securities/ warrants convertible into equity shares, by way of preferential issue and/or qualified institutional placement and/or rights issue and/or foreign currency convertible bonds or any other method including determination of issue price, if any and seeking members’ and other approval(s), as the Board may deem appropriate,” said Reliance Power in its exchange filing.
The coal-power generating company earlier stated that they need funds to expand in their renewable energy segment. Preferential share issue The company's board of directors approved the issue of 46.20 crore preferential shares to raise ₹ 1,524.
60 crore, according to the company's BSE filing on September 23. “We hereby inform you that the Board of Directors at its Meeting held today i.e.
, Monday, September 23, 2024, has approved issuance of up to 46,20,00,000 equity shares and/or warrants convertible into equity shares of the Company at an Issue Price of Rs. 33/- per share aggregating ₹ 1524.60 crore through preferential allotment,” said the company in its filing.
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