Report of the Monitoring Agency for the quarter ended March 31, 2026
RPOWER · price
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Reliance Power Limited has filed its Q4 FY2026 monitoring agency report for a Rs.1,524.60 crore preferential issue of convertible warrants. The company issued 462 crore warrants at Rs.33 each between October-November 2024. During Q4, the company fully utilized the remaining Rs.26.49 crore unutilized proceeds towards general corporate purposes, resulting in zero unutilized funds as of March 31, 2026. So far, the company has received Rs.694.65 crore (46% of total issue size) and allotted equity shares worth Rs.392.04 crore upon warrant conversion. However, 34.32 crore warrants have lapsed due to non-conversion within the prescribed 18-month period. There are no deviations from the stated objects of the issue.
The filing shows clean utilization of proceeds with no deviations, which is positive for compliance. However, the lapse of 34.32 crore warrants (worth approximately Rs.1,132 crore at issue price) indicates lower-than-expected subscription or conversion uptake, which could signal investor concerns about the company's execution or stock performance.