- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Anil Ambani's Reliance Power shares plunge by 5% a day after company announces...
Earlier, from September 3 to October 3, the Reliance Power share hit over 80% from Rs 29.58 to Rs 53.64.
Updated : Oct 04, 2024, 09:49 PM IST
 "Anil Ambani's Reliance Power shares plunge by 5% a day after company announces...")
TRENDING NOW
)
'I will give you interview, but give me food': Meet 'king of B-grade films' who had no money, then became star, worked in 6 shifts, did 18 films together
)
Shark Tank judge Aman Gupta reacts to Piyush Goyal's remarks on Indian startups: 'We need to...'
)
Meet former Miss India who cracked CDS exam to become Indian Army officer, her AIR was...
)
Ratan Tata's TCS loses Rs 110351 crore in just 96 hours after...; becomes biggest...
)
Meet Jai Anshul Ambani, younger son of Anil Ambani and nephew of Mukesh Ambani, owns collection of luxury cars and aircrafts; his net worth is Rs...
)
This super expensive Delhi wedding saw a gift of a Bell 429 helicopter for the groom, 1000 workers curated everything for 30,000 guests
)
MS Dhoni's daughter Ziva studies in this school, know amenities, area, fees is Rs..., not Dhirubhai Ambani International School
)
Indian-Canadian couple's dream wedding in Bengaluru turns tragic as colour bomb explodes on bride's back, watch viral video
)
Meet woman who once worked at Goldman Sachs, now joins Azim Premji's Wipro in key role as...
)
Abhishek Bachchan flies out of Mumbai with mom Jaya Bachchan, niece Navya Nanda; fans ask 'where is Aishwarya, Aaradhya'
)
Saudi Prince MBS orders visa ban on 14 nations, including India, Pakistan due to...
)
Meet Chandrakumari Raghuram Shetty, wife of BR Shetty, Dubai billionaire who had to sell his company for just Rs 74
)
Meet woman, IIT alumna whose one advise to her husband made him highest paid Indian CEO in US, she is...
)
Rohit Sharma's daughter Samaira's goes to Dhirubhai Ambani International School, her school fees is Rs...
)
From Rajesh Khanna, Amitabh Bachchan to Shatrughan Sinha: Stars who rejected Manoj Kumar's films
Anil Ambani's Reliance Power shares had been rising for the past few days. The share closed at Rs 53.64 with a nearly 5 per cent hike on Thursday, October 3. However, it declined by 5 per cent to lower circuit amid a market sell-off on Friday, October 4. It closed at Rs 50.95 on the NSE with a Rs 2.69 reduction (5.01%). The market cap of the company recorded Rs 20471 crore in the last trading session of this week. Earlier, from September 3 to October 3, the share hit over 80% from Rs 29.58 to Rs 53.64.
The decline in the share price comes a day after the Reliance Group company announced a Rs 4,200 crore Foreign Currency Convertible Bonds (FCCBs) issuance on October 3. "Reliance Power Board approves raising USD 500 million (INR 4,200 crore) through ultra-low interest of 5 per annum pa, 10 years long tenured Unsecured Foreign Currency Convertible Bonds (FCCBs)," it said.
The RPower declared a surprisingly low annual interest rate of 5 per cent on their FCCBs. These unsecured bonds will have a lifespan of a decade. The FCCBs will be issued to affiliates of Varde Investment Partners, LP, which is a leading Global Alternative Investment Firm, Reliance Power said. The FCCBs will be convertible into equity shares at Rs 51 per share.
READ | Mukesh Ambani's Reliance loses Rs 77606 crore in just one day, market cap drops to...
