Reliance Power has allotted 105.5 million equity shares to its promoter company and an investor through conversion of warrants, the company said on Wednesday.
The company allotted 95.5 million shares to Reliance Infrastructure and 10 million shares to Basera Home Finance. The shares were issued at Rs 33 per share including a premium of Rs 23 per share, aggregating to Rs 348.15 crore, it said.
Fully paid warrants are convertible into equivalent number of equity shares. “The capital infusion will strengthen company’s growth trajectory in renewable energy sector,” it said.
The company made a preferential issue of 462 million warrants aggregating Rs 1,525 crore in October 2024. A minimum upfront amount of 25% was paid on the warrants and the balance 75% amount was payable in 18 months.