- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Anil Ambani's Reliance Power approves Rs 4200 crore plan as shares hit over...
The market cap of Reliance Power reached Rs 21547 crore on October 3 as its share closed at Rs 53.64 with a nearly 5 per cent hike.
Updated : Oct 03, 2024, 10:04 PM IST
 "Anil Ambani")
TRENDING NOW
)
Shilpa Shetty breaks down, Salman Khan cancels shoot; celebs rush to Lilavati hospital after Baba Siddique shot dead
)
Amid divorce rumours of Aishwarya, Abhishek Bachchan, video of Jaya announcing his engagement with Karisma goes viral
)
Bigg Boss 18: Rajat Dalal, Vivian Dsena, Avinash Mishra, Chahat Pandey, top 5 most popular contestants this week
)
Aishwarya Rai's biggest flop was rejected by Priyanka Chopra, ruined director's career, didn't earn even Rs 10 crore
)
'Fake drama': Sania Mirza, Shoaib Malik celebrate their son Izhaan's birthday in Dubai; netizens troll Pak cricketer due
)
Aishwarya Rai fans express anger after Abhishek Bachchan, Amitabh Bachchan skip her birthday post: 'She needs to...'
)
Mukesh Ambani's superhit plan for Jio users: 2GB of daily data, unlimited calls, Netflix subscription for just Rs...
)
Meet IAS officer who cracked UPSC exam twice without coaching, became youngest IPS at 21, is Vikas Divyakirti's...
)
Pakistani TikTok star Minahil Malik reacts after leaked video with boyfriend goes viral, says, 'I'm done...'
)
Rinku Singh buys luxurious bungalow after being retained by KKR for Rs 13 crore, SEE pics
)
Mumbai-Ahmedabad bullet train: 8 hour journey in 180 minutes, construction of 12 river bridges complete between...
)
Gandii Baat, XXX show actress Aabha Paul looks stunning in sultry photos, sexy videos
)
Amid linkup rumours with Abhishek Bachchan, Nimrat Kaur drops Diwali photos with cryptic note: 'Mere ghar se...'
)
Amaran box office collection day 5: Sivakarthikeyan film beats lifetime earnings of Kamal Haasan's Indian 2, earns Rs...
)
Aishwarya Rai Bachchan says she rejected Shah Rukh Khan's film because Abhishek Bachchan wasn't...
Days after becoming a debt-free company, Anil Ambani-led Reliance Power has been in the news for quite some time now. The shares of the company have also been on the rise since the news came in. Now, the board of directors of Reliance Power has approved a proposal to raise up to USD 500 million (about Rs 4,200 crore) through issuance bonds.
"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 board also approved an Employee Stock Option Scheme (ESOS) for all employees of the company, the company said in a regulatory filing.
This comes as RPower shares continue to rise on the share market. The share closed at Rs 53.64 with a nearly 5 per cent hike on Thursday. In one month from September 3 to today, it has hit over 80% from Rs 29.58 to Rs 53.64. The market cap of the company reached Rs 21547 crore on October 3. Reliance Power Ltd, a part of the Reliance Group, is a leading power generation company in India with a total installed capacity of 5,340 MW, including the 4,000 MW Ultra Mega Power Project in Sasan, Madhya Pradesh.
Meanwhile, 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.
The Board further approved ESOS for all employees to provide grants of up to 22 crore equity shares of value of over Rs 1,180 crore (Rs 10 each) representing 5 per cent of fully-diluted capital of the company.
The ESOS will unlock the employee earning potential, in alignment to the company's performance and growth. The ESOS shall be subject to the approval of shareholders of the company and other regulatory approvals.
(With input from PTI)
