Reliance Power on Wednesday said it has raised Rs 348.15 crore through preferential issue of shares.
The company said 9.55 crore equity shares were issued to Reliance Infrastructure (promoter) and 1 crore shares to Basera Home Finance Private Limited (public).
The 10.55 crore fully paid-up equity shares have been issued at a price of Rs 33 per share (including a premium of Rs 23 per share) aggregating to Rs 348.15 crore, it said.
The capital infusion will strengthen company's growth trajectory in the renewable energy sector.
The company made a preferential issue of 46.20 crore warrants aggregating Rs 1,525 crore in October 2024.
A minimum upfront amount of 25% was paid on the warrants and the balance 75% was payable in 18 months.
Fully paid warrants are convertible into equivalent number of equity shares.
Reliance Power said it "maintains a zero-bank debt position, ensuring a strong, unleveraged balance sheet. This enhances financial flexibility and supports sustainable growth, positioning the company to capitalize on future opportunities and drive long-term value creation."
Part of Reliance Group, Reliance Power is a leading private sector power generation company with an operating portfolio of 5,305 megawatts, which includes 3,960 megawatts Sasan Power.
