Reliance Power Share: Rosa Power, a subsidiary of Anil Ambani’s power company Reliance Power Limited, has repaid a loan of ₹850 crore to Singapore-based lender Varde Partners. After Reliance Power’s achievement of zero debt, Rosa Power is now on the path to becoming debt free. The company’s target is to complete the process before the end of the current financial year and settle its remaining debt in the next quarter. Let us tell you that the only lender of Rosa Power (which operates a 1,200 MW coal-based thermal power plant in Rosa village near Shahjahanpur in Uttar Pradesh) is Varde Partners. The company’s stock hit an upper circuit of 5% today and the stock reached a 52-week high of Rs 42.06.
Reliance Power’s net worth will increase
The board members of Reliance Power approved the preferential issue on Monday, in which more than Rs 600 crore will come from its promoter company Reliance Infrastructure and the remaining Rs 900 crore will come from Authum Investment and Infrastructure Limited and Sanatan Financial Advisory Services. This preferential issue is expected to increase the net worth of Reliance Power from Rs 11,155 crore to more than Rs 12,680 crore, maintaining its zero-bank-loan status. The company will use this capital to expand business operations. Earlier recently, Reliance Power Limited has completed the liabilities of Rs 3,872 crore related to the guarantor for its subsidiary unit Vidarbha Industries Power.
Also read: This share of power company will cross ₹400! Loot of buying, LIC has 21 crore shares
Shares rising steadily
Let us tell you that Reliance Power shares have been rocketing for the last ten business days. The company’s stock is hitting an upper circuit of 5% today on Wednesday as well. Reliance Power shares reached a 52-week high of Rs 42.06 today. In the last five business days, this stock has climbed up to about 22%. This stock has climbed up to 75% so far this year. This power stock has seen a rise of up to 125% in a year.
(With agency input)
