Another good news has come for Mukesh Ambani's younger brother Anil Ambani. This time there is good news from home and abroad. In fact, Rosa Power, a subsidiary of Reliance Power, has repaid its loan ahead of schedule. Notably, the way Rosa Power is servicing its debt, it may soon become debt-free like Reliance Power. Shares of Reliance Power are in the upper circuit of 5 percent for the fifth consecutive day after this news. Let us also tell you what kind of information has come out about this company of Anil Ambani.
Preferential issue granted
Reliance Power's board of directors on Monday approved the preferential issue, in which over Rs 600 crore will come from its promoter company Reliance Infrastructure, and the remaining Rs 900 crore from Otham Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. According to regulatory information, the company's preferential issue is expected to increase Reliance Power's net worth from Rs 11,155 crore to over Rs 12,680 crore.
Rosa Power will soon be debt free
Reliance Power's subsidiary Rosa Power has offered Singaporean lender Verde Partners Rs. 850 crore loan has been repaid prematurely. After Reliance Power's zero debt achievement, Rosa Power is now on its way to becoming debt free. The company aims to settle its remaining debt in the next quarter and complete the process before the end of the current financial year. Verde Partners is the sole lender to Rosa Power, which operates a 1,200 MW coal-fired thermal power plant at Rosa village near Shahjahanpur in Uttar Pradesh.
The shares of the company are constantly increasing
Notably, Reliance Power's shares have seen gains for the 10th consecutive trading day. On September 11, the company's shares were priced at Rs 29.57. Since then it has been increasing steadily. After which the shares of the company have come to 42.06 rupees. Which is a 52 week high. In these 10 trading days, the shares of the company have seen an increase of 42.24 percent. However, the company's shares hit an upper circuit of 5 percent on Wednesday. The company's market cap has seen an increase of Rs 5,017.2 crore in the last 10 trading days. Currently the market cap of the company is Rs 16,895.38 crore.
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