Report of the Monitoring Agency for the quarter ended March 31, 2026
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Reliance Power Limited has submitted its quarterly monitoring agency report for Q4 FY2026 (ending March 31, 2026) covering the utilization of proceeds from a preferential issue of convertible warrants. The total issue size was Rs. 1,524.60 crore (46.20 crore warrants at Rs. 33 each). As of March 2026, the company received Rs. 694.65 crore and utilized Rs. 694.65 crore, leaving zero unutilized proceeds. During the quarter, Rs. 26.49 crore was deployed for general corporate purposes. The monitoring agency (Infomerics Valuation and Rating Limited) has confirmed there are no deviations from the objects disclosed in the offer document, and no delays in implementation were observed. Notably, 34.32 crore warrants have lapsed due to non-conversion within the prescribed 18-month period.
This is a routine compliance filing confirming proper utilization of preferential issue proceeds with no deviations. The lapsing of 34.32 crore warrants indicates some warrant holders did not exercise conversion rights, which could have minor dilutive impact implications for existing shareholders.