Another good news has come for Mukesh Ambani’s younger brother Anil Ambani. This time, good news has come from outside the country and abroad. In fact, Reliance Power’s subsidiary Rosa Power has repaid its loan early. The special thing is that the way Rosa Power is repaying its debt, it will soon be able to become debt-free like Reliance Power. After this news, Reliance Power shares are in the upper 5 percent circuit for the fifth consecutive day. Let us also tell you what kind of information has come to light about this company of Anil Ambani.
Rosa Power will soon be debt free
Reliance Power subsidiary Rosa Power has prematurely repaid the Rs 850 crore loan to Singapore-based lender Verde Partners. After Reliance Power achieved zero debt, Rosa Power is now on track to become debt-free. The company aims to clear the remaining debt in the next quarter and complete the process before the end of the current financial year. Verde Partners is the sole lender to Rosa Power, which operates a 1,200 MW coal-fired power plant at Rosa village near Shahjahanpur in Uttar Pradesh.
Preferential issuance approved
Reliance Power’s board on Monday approved the preferential issue, in which over Rs 600 crore will come from its promoter company Reliance Infrastructure, and the remaining Rs 900 crore will come from Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. According to regulatory filings, the company’s preferential issue is expected to boost Reliance Power’s net worth from Rs 11,155 crore to over Rs 12,680 crore.
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The company’s shares continue to rise
The special thing is that Reliance Power shares have risen for the 10th consecutive day. On September 11, the company’s shares were at Rs 29.57. Since then there is a continuous rise in the same. After which the company’s shares rose to Rs 42.06. Which is a 52-week high. In these 10 trading days, the company’s shares have seen an increase of 42.24 percent. However, the company’s shares reached a high of 5 percent on Wednesday. In the last 10 trading days, an increase of Rs 5,017.2 crore has been observed in the company’s market capitalization. At present, the company’s market capitalization is Rs 16,895.38 crore.
