Reliance Power allots shares worth Rs 348 cr to Reliance Infra, Basera

Reliance Power has allotted 10.55 crore shares to Reliance Infra and Basera Home Finance after early warrant conversion, boosting its clean energy expansion

Reliance Power has allotted 10.55 crore equity shares worth Rs 348.15 crore to its promoter Reliance Infrastructure and public investor Basera Home Finance, following an accelerated conversion of warrants issued in October 2024.

 

The shares were allotted at Rs 33 apiece, including a premium of Rs 23 per share, the company said in an exchange filing on Wednesday.

 

The capital infusion stems from the conversion of a portion of the Rs 1,525-crore preferential issue of 46.20 crore warrants, previously approved under SEBI regulations.

 

Reliance Infrastructure, part of the Anil Ambani-led Reliance Group and the controlling shareholder of Reliance Power, received 9.55 crore shares. Basera Home Finance was allotted 1 crore shares.

 

 

The conversion required full payment of the remaining 75 per cent of the subscription amount, which was originally due within 18 months of the issue.

 

The company said the proceeds would help bolster its growth trajectory in green energy initiatives.

 

“Reliance Power maintains a zero-bank debt position, ensuring a strong, unleveraged balance sheet. This enhances financial flexibility and supports sustainable growth, positioning the company to capitalise on future opportunities and drive long-term value creation,” it said.

 

The company has been restructuring its operations and capital structure in recent quarters to focus on clean energy projects while reducing legacy debt burdens.

 

Reliance Power has an operating portfolio of 5,305 megawatts, including 3,960 megawatts from Sasan Power, the world’s largest integrated coal-based power plant.

 

The company’s shares closed at Rs 39.11, up 2.22 per cent, while the benchmark Sensex ended at 80,746.78 points, up 0.13 per cent.