Reliance Power approved a Rs 6000 crore fundraising plan on Wednesday — using Qualified Institutions Placement and other modes. The Anil Ambani-led company said it was planning to issue new equity shares or instruments linked to equity following a board meeting after market hours.
We hereby inform you that the Board of Directors has approved seeking enabling authorization from the members for raising funds up to Rs 6,000 crore through the issuance of equity shares and/or equity linked instruments and/or other eligible securities to qualified institutional buyers by way of a Qualified Institutions Placement and /or follow on public offer or a combination thereof,” read an excerpt from an exchange filing.
The power company also outlined plans for issue of secured or unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore in one or more tranches. The regulatory filing said this could be done “on a private placement basis or otherwise”.
Details and terms of the issue issue are set to be shared at a later time — to be determined by the Board in terms of the approval of the shareholders.
Reliance Power has made a stunning comeback in 2025 with shares rallying 100% within three months. The stock hit a fresh 52-week high of Rs 70.90 at the beginning of July and closed at Rs Rs 66.06 on Wednesday afternoon.