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Neeraj Parakh Proposed as Reliance Power’s CEO and Executive Director

Written by: Team Angel OneUpdated on: Jan 21, 2025, 3:01 PM IST
Reliance Power appoints Neeraj Parakh as CEO and Executive Director for a three-year term, effective January 20, 2025, pending member approval.
Neeraj Parakh Proposed as Reliance Power’s CEO and Executive Director
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Reliance Power Limited has announced the appointment of Neeraj Parakh as its Executive Director and Chief Executive Officer (CEO), effective January 20, 2025. His 3-year tenure is subject to the approval of the company’s members, according to an official filing.

Board Approval

The decision to appoint Parakh was taken at a board meeting held at the company’s Navi Mumbai headquarters. The filing confirmed that Parakh is not related to any of the directors, in compliance with regulatory norms.

Career at Reliance

Parakh has been with the Reliance Group since 2004, serving in roles across project planning, operations, procurement, and compliance. Over two decades, he has contributed to the development of power projects with a cumulative capacity of over 10 GW, spanning both thermal and renewable energy sectors.

Projects

Parakh’s work has been integral to major power projects such as Rosa, Sasan, and Yamuna Nagar, with a combined investment of ₹50,000 crore. Reports suggest that his focus on project execution and management has been central to the company, particularly in areas such as vendor localization and reducing dependency on imports. He has helped streamline procurement and optimize resources across the company’s projects.

Shareholding Reclassification 

Earlier this month, Reliance Power and Reliance Infrastructure disclosed plans to reclassify Anil Ambani and Jai Anmol Ambani from “promoter” to “public shareholder” status. This, approved by the boards of both companies, adheres to SEBI’s Regulation 31A requirements.

Market Update

Shares of Reliance Power shares are currently trading at ₹40.21, down by 1.40% as of 10:37 AM today, on January 21, showing a 48.41% gain over the past six months and a 40.88% rise over the past year. Though it remains down 83.26% from its all-time high.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 21, 2025, 3:01 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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