On Wednesday, Reliance Power announced a significant move in its financial strategy by issuing 105.5 million equity shares to a promoter company and an investor. This decision is part of a larger plan to enhance the company’s position in the rapidly growing renewable energy sector.
Equity Shares Allocation
The breakdown of the share allocation is quite notable. Reliance Infrastructure received 95.5 million shares, while Basera Home Finance was allotted 10 million shares. Each share was priced at Rs 33, inclusive of a premium of Rs 23, bringing the total capital raised to an impressive Rs 348.15 crore.
- 95.5 million shares to Reliance Infrastructure
- 10 million shares to Basera Home Finance
- Total funds raised: Rs 348.15 crore
Strengthening Growth
The conversion of fully paid warrants into equity shares is a strategic step that reflects the company’s commitment to its growth trajectory. Reliance Power stated that this capital infusion will significantly bolster its endeavors in the renewable energy arena, aiming to meet the increasing demand for sustainable energy solutions.
Previous Warrants Issue
In a prior move, back in October 2024, Reliance Power initiated a preferential issue of 462 million warrants, valued at Rs 1,525 crore. Here, an initial payment of 25% was made, with the remaining 75% due within 18 months. This structured approach to financing positions the company to innovate and expand its renewable energy projects effectively.
Reliance Power’s strategic decisions underline its focus on sustainability and growth, setting the stage for a promising future in the energy sector. By attracting significant investments, the company is poised to make a substantial impact in the renewable energy landscape.
