Reliance Power Boosts Clean Energy Push with ₹348 Crore Fund Raise

Reliance Power announced on Wednesday that it has successfully raised ₹348.15 crore by issuing shares on a preferential basis.

Breakup of Share Allotment

The company issued a total of 10.55 crore fully paid equity shares at a price of ₹33 per share (including a ₹23 premium per share).

• 9.55 crore shares were allotted to Reliance Infrastructure, the company’s promoter.

• 1 crore shares were allotted to Basera Home Finance Pvt Ltd, a public entity.

Read More, Anand Rathi Wealth Declared Final Dividend: Set May 9 as Record Date. 

Funds to Support Renewable Energy Growth

Reliance Power said this capital will help boost its growth in the renewable energy sector. The company aims to use this fund infusion to further strengthen its business in clean energy.

Previous Fundraising Through Warrants

Earlier, in October 2024, the company issued 46.20 crore warrants worth ₹1,525 crore.

• Investors paid 25% upfront.

• The remaining 75% will be paid within 18 months.

• Once fully paid, these warrants can be converted into equity shares in the company.

Strong Financial Position With Zero Bank Debt

Reliance Power also highlighted that it currently has zero bank debt, which means it has not borrowed any money from banks. This gives the company financial strength and flexibility, allowing it to focus on sustainable growth and seize new business opportunities.

About Reliance Power

Part of the Reliance Group, Reliance Power is one of India’s major private power generation companies. It operates a total of 5,305 megawatts, including the 3,960 MW Sasan Ultra Mega Power Project.

As of 10:13 AM IST on May 8, Reliance Power share price is trading at ₹39.45, up ₹0.34 or 0.87% for the day. The stock opened at ₹39.70 and has touched a high of ₹40.10 and a low of ₹39.11 so far. The company has a market capitalisation of ₹15,840 crore and a price-to-earnings (P/E) ratio of 6.58. It currently does not offer a dividend yield. Over the past 52 weeks, the stock has traded between a low of ₹23.30 and a high of ₹53.64.

Conclusion

This latest fund infusion marks another step in Reliance Power’s strategy to expand its presence in the renewable energy space. With a debt-free balance sheet and strong promoter backing, the company is well-positioned to pursue future growth opportunities.

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