Reliance Power zooms as its arm prepays another Rs 485 crore debt to Varde Partners
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Reliance Power is currently trading at Rs. 45.48, up by 2.01 points or 4.62% from its previous closing of Rs. 43.47 on the BSE.
The scrip opened at Rs. 44.45 and has touched a high and low of Rs. 45.64 and Rs. 44.00 respectively. So far 2329768 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 53.64 on 04-Oct-2024 and a 52 week low of Rs. 19.35 on 07-Nov-2023.
Last one week high and low of the scrip stood at Rs. 45.76 and Rs. 44.20 respectively. The current market cap of the company is Rs. 18333.46 crore.
The promoters holding in the company stood at 23.26%, while Institutions and Non-Institutions held 16.02% and 60.72% respectively.
Reliance Power’s subsidiary -- Rosa Power Supply Company (Rosa Power) has prepaid Rs 485 crore loan to Singapore-based lender Varde Partners. By prepaying this loan, Rosa Power has achieved a zero-debt status, fully settling its outstanding debt by payment of Rs 1,318 crore to Varde ahead of the original schedule. Earlier in September, Rosa Power had prepaid Rs 833 crore to Varde Partners. Rosa Power operates a 1,200 MW coal-based thermal power plant in Rosa village near Shahjahanpur, Uttar Pradesh.
The strengthening of Rosa Power’s balance sheet, along with a recent Rs 1,525 crore equity linked warrants preferential issue, will support Reliance Power in pursuing business opportunities, in the fast-growing clean green renewable energy sector. This preferential issue will boost the company’s net worth from Rs 11,155 crore to over Rs 12,680 crore. The listed entity has zero bank debt.
Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally.
