Meet man, an Indian who wanted to become cricketer, now earns Rs 5 crore daily, is married to...
Meet man, who spent over 50 years in jail for murder he never committed, is now set to be...
Earth's 'mini-moon' to be visible from..., here's how you can watch it
PM Modi launches 3 Param Rudra supercomputers: Know features, how these will help India
Salman Khan flaunts his Sikandar biceps, gives glimpse into his fitness regime in viral pic
Virat Kohli needs only 35 runs to break star India cricketer Sachin Tendulkar's world record of...
Mukesh Ambani's Reliance Jio to get tough competition from BSNL as government...
Pakistani actor Darpan, whose brother Santosh was a superstar, reigned the romantic age
Indian mountaineers name peak in Arunachal Pradesh after 6th Dalai Lama, China responds
Anil Ambani rises again, Reliance Group companies becoming debt free, his net worth is...
Meet IAS officer, who can't speak or listen, still aced UPSC in his first attempt with AIR...
Meet man, who leads Rs 7781 crore company, close relative of Mukesh Ambani, has net worth of...
When Nita Ambani shared who she’d date if not her husband, Mukesh Ambani’s response was...
Kanpur weather forecast, India vs Bangladesh 2nd Test: Will rain play spoilsport on Day 1?
Zelenskyy meets Joe Biden, Kamala Harris, discusses Ukraine's 'victory plan'
Meet man, son of closest advisor of Mukesh Ambani’s father, who works in Reliance as…
Grandmaster Gukesh Dommaraju gets Mercedes Benz E-Class as gift, it costs Rs…
Flipkart Big Billion Days: Apple iPhone 15 is available for just Rs....; check how to grab new offer
DNA TV Show: As gold prices hit all-time high, should we invest in yellow metal or shares?
'Why pick up BCCI, settle with them only': SC asks Byju's on Rs 15000 crore debt
NASA’s rover discovers unusual 'Zebra-stripped' rock on...
Mpox outbreak: Centre issues advisory to prevent spread of virus, says, 'minimize risk of...'
Ratan Tata's company inks Rs 91000 crore pact with Taiwan firm to build India's first...
Mukesh Ambani's Reliance teams up with Swedish company, will now sell...
After reducing debt, Anil Ambani's Reliance Infra to now take major decision on...
Good news for these workers, ahead of festive season, Centre increases...
Mukesh Ambani's children, Isha, Akash Ambani shine in Hurun India's list of...
Virat Kohli doesn't want Rishabh Pant in RCB? DC captain lambasts rumors ahead of IPL 2025 auction
IND vs BAN, 2nd Test Dream11 prediction: Fantasy cricket tips for India vs Bangladesh match
Want to time travel? Here's how Google can help you revisit Earth 80 years ago
Bilkis Bano case: SC rejects Gujarat govt's plea seeking review of verdict over certain observations
Mohan Babu robbed of Rs 10 lakh cash from his Hyderabad home, police arrests domestic help
High-Precision Stamping: Key Steps To Ensure Quality And Accuracy
Expert Skincare Tips For A Festive Glow: Dr Shivani Mane’s Guide To Radiant Skin
The Evolving Job Market and Career Choices
Meet Bollywood actress who rejected Shah Rukh Khan’s Kuch Kuch Hota Hai, had her own TV series
Good news for Delhi-NCR! Namo Bharat Metro to pass from 22 stations to reach...
Bihar: 46 people, including 37 children, drown during Jivitputrika festival
Scientists find Earth-like planet in distant solar system, nearly 2 times size of...
Karnataka withdraws general consent to CBI to probe cases in state amid MUDA case row
Sarfira OTT release: When, where to watch Akshay Kumar's remake of Soorarai Pottru
Navya Naveli Nanda breaks her silence on handling social media trolls after joining IIM Ahmedabad
Punjab Kings part ways with Trevor Bayliss, Sanjay Bangar ahead of IPL 2025
Clarifying speculation surrounding Raveena Tandon's involvement in Jatadhara
Ahead of Reliance Disney merger, Mukesh Ambani makes new move, Nita Ambani, son Akash are now...
DS Creations News joins as media partner for Maesha Soi's debut film directed by Dinesh Soi
Meet 12th class student who became DM for 2 hours, know what she did after taking over
The Confluence of Innovation, Data, and Technology: Perceptions from Stakeholders
This mysterious 500 diamond necklace with Indian connection will be auctioned in...
Shakib Al Hasan announces T20I retirement, says Kanpur Test against India will be his last if...
This stock of Ratan Tata has seen huge growth, price has jumped more than 4% in just one day
Watch: Bihar man performs risky push-ups on moving bike to film reel, police reacts to viral video
Paracetamol, Antacid, Pan D among 53 drugs to fail regulator's quality test
'I just could not believe...': Indian chess star Vantika Agarwal on meeting with PM Modi
'Why should I resign?', asks Karnataka CM Siddaramaiah amid protests by BJP leaders
SHOCKING! Viral video shows man doing risky stunt on moving bike, here's what happened next
Work-life balance: This country has set global standard with 24.7-hour work-week
After UP, Congress-ruled Himachal Pradesh makes it mandatory for…
'Certificate can be issued to Kangana Ranaut's Emergency if...': CBFC to Bombay HC
Mumbai court sentences Sanjay Raut to 15 days imprisonment in defamation case
BUSINESS
The company's promotor will enhance its equity stake by over Rs 600 crore to advance its business.
TRENDING NOW
Days after becoming debt-free, Anil Ambani's Reliance Power has approved a Rs 1,525 cr preferential issue. The move is aimed at strengthening the company's renewable energy business and boosting its balance sheet. Reliance Power's promotor, Reliance Infrastructure, will enhance its equity stake by over Rs 600 crore to advance its business. The other investors who will participate in the preferential issue are Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services.
This comes days after Reliance Infrastructure, another Anil Ambani-led group firm, approved raising Rs 6,000 crore. The issue entails up to 46.20 crore equity shares or warrants convertible into equity shares at a price of Rs 33 per share. On Monday, the company shares rose by 4.98 per cent to Rs 38.15. The market cap of R-Power reached Rs 15325 crore on September 23.
"The Board of Directors of Reliance Power Limited at its meeting held today has approved raising of Rs 1,524.60 crore by preferential issue of up to 46.20 crore equity shares and /or warrants convertible into equivalent number of equity shares of the company at a price of Rs 33 per share/warrant," the firm said in a statement.
READ | Mukesh Ambani's Reliance teams up with govt company for India's biggest...
"The preferential issue proceeds would be utilised for expansion of business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes," it added.
The preferential issue will enhance the company's net worth from about Rs 11,155 crore to over Rs 12,680 crore. "The listed entity has zero bank debt," the statement said adding the enhanced capital will support the company's participation in the renewable energy sector. Reliance Infra is raising Rs 6,000 crore -- Rs 3,014 crore through preferential allotment of shares and Rs 3,000 crore by issuing shares to institutional buyers.
(With inputs from PTI)