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Consequent to approval from shareholders, through postal ballot, Reliance Power Ltd (Reliance Power), has allotted 59.50 crore equity shares and 73 crore warrants convertible into equivalent number of equity shares of the company by conversion of debt, to Reliance Infrastructure Ltd (Reliance Infrastructure), a listed promoter company.
Post allotment, the holding of Reliance Infrastructure and other promoter group in Reliance Power increased to 24.98 per cent and may further increase to 38.24 per cent on conversion of warrants, which shall be subject to compliance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and other provisions of law, as and when applicable.
Reliance Power Ltd, a part of the Reliance Group, is India's leading private sector power generation and coal resources company.
The company has one of the largest portfolios of power projects in the private sector in India, based on coal, gas and renewable energy, with an operating portfolio of 5,945 megawatts.
--IANS
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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