Reliance Power Limited has informed the Exchange regarding allotment of 105500000 securities upon exercise of right attached to the Warrants,
RPOWER · price
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On the reaction day the stock moved 1.3 pts more than Nifty Smallcap 250 and 1.1 pts more than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Reliance Power has allotted 10.55 crore fully paid-up equity shares at ₹33 per share (including a ₹23 premium), raising ₹348.15 crore through the accelerated conversion of warrants. Of these, 9.55 crore shares went to promoter Reliance Infrastructure Limited and 1 crore shares to Basera Home Finance Private Limited. This is part of the larger ₹1,525 crore preferential warrant issue made in October 2024, where 46.20 crore warrants were issued with 25% upfront and 75% balance payable in 18 months. The company says the capital will fund growth in the renewable energy sector and notes it maintains a zero-bank-debt position.
Positive for the company's growth plans and balance sheet strength, but the share issuance will dilute existing shareholders. Promoter Reliance Infrastructure's large participation signals continued promoter confidence in the business. Watch for how the capital is deployed in renewable energy projects.