The company defaulted on payment of Rs 300.22 crore, including interest amount of Rs 2.22 crore on July 31, 2020, it said in a BSE filing.
Shares of Reliance Power fell over 2 percent in morning trade on BSE on September 1, a day after the company said it had defaulted on payment of principal and interest totalling to Rs 300.22 crore.
The company, in a regulatory filing on September 1, said it had defaulted on a term loan from Axis Bank, YES Bank, IDBI Bank and Laxmi Vilas Bank.
The company defaulted on payment of Rs 300.22 crore, including interest amount of Rs 2.22 crore on July 31, 2020, it said in a BSE filing.
The company said its total amount of outstanding borrowings from banks and financial institutions is about Rs 1290 crore.
Shares of Reliance Power traded 0.88 percent down at Rs 3.39 on BSE at 11:35 hours.First Published on Sep 1, 2020 11:45 am