Reliance Power Limited has informed the Exchange regarding 'Disclosure under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
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Awaiting price reaction for this filing.
Reliance Power has informed the stock exchanges that Reliance Capital Limited has applied to be reclassified from the 'promoter group' category to 'public' category in Reliance Power's shareholder list. This application follows the implementation of Reliance Capital's resolution plan by IndusInd International Holdings Limited under the Insolvency and Bankruptcy Code, 2016. The change in classification will reduce the effective promoter group shareholding in Reliance Power, but specific shareholding figures were not disclosed in this filing. The reclassification is subject to approval under SEBI's Regulation 31A process.
If approved, this will reduce the promoter group's stake in Reliance Power and reclassify Reliance Capital's holding as public, which may dilute promoter influence. The stock could see a negative reaction as promoter stake reduction is often viewed unfavourably, though it is a procedural outcome of Reliance Capital's insolvency resolution rather than a deliberate divestment.