Reliance Power shares are hitting an upper circuit for 6 consecutive days
Reliance Power’s subsidiary company Rosa Power has paid a debt of Rs 850 crore to Singapore lender Varde Partners. The special thing is that Rosa Power has paid the debt to Varde Partners before time. Let us tell you that Reliance Power, a company led by Anil Ambani, younger brother of the country’s richest person Mukesh Ambani, has already paid off all its debt. After Reliance Power, now its subsidiary company Rosa Power is also moving ahead on the path of becoming debt free.
The company’s thermal power plant runs in Shahjahanpur, Uttar Pradesh
Rosa Power aims to become debt-free by repaying all its outstanding debt in the next quarter and is aiming to complete the process before the end of the current financial year. Singapore-based lender Varde Partners is the sole lender to Rosa Power, which operates a 1,200-megawatt coal-fired thermal power plant at Rosa village near Shahjahanpur in Uttar Pradesh.
The company’s board approved a preferential issue of Rs 1,525 crore
Let us tell you that the Board of Directors of Reliance Power approved the preferential issue on Monday. In which more than Rs 600 crore will come from Reliance Power’s promoter company Reliance Infrastructure and the remaining Rs 900 crore will come from Authum Investment and Infrastructure Limited and Sanatan Financial Advisory Services.
The company’s shares have been hitting an upper circuit for 6 consecutive days
Let us tell you that the direct impact of these positive developments happening in Reliance Power is also being seen on the company’s shares. The company’s shares have been making an upper circuit for 6 consecutive days and the company’s shares are making a new 52 week high every day. Today also on Wednesday, the company’s shares made an upper circuit of 4.99 percent, after which Reliance Power shares closed at Rs 42.06 with a jump of Rs 2.00.
Action can be seen further also
Let us tell you that this price of Rs 42.06 is the new 52 week high of the company’s shares. Its 52 week low is Rs 15.53. It is believed that after this good news related to Rosa Power, further action can be seen in the shares of Reliance Power.
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