Reliance Power Raises INR 348.15 Crore via Accelerated Warrant Conversion to Fuel RE Push

In a significant financial move, Reliance Power Ltd. has successfully completed the accelerated conversion of 10.55 crore warrants into fully paid-up equity shares, raising INR 348.15 crore.

As per the firm, the equity shares have been issued at INR 33 per share, including a premium of INR 23 per share, marking a major capital infusion aimed at bolstering the company’s future growth, particularly in the renewable energy sector.

This conversion is part of a larger preferential issue announced by the company in October 2024, when it offered 46.20 crore warrants valued at INR 1,525 crore under the SEBI (ICDR) Regulations.

According to the terms of the issue, subscribers were required to pay 25 percent of the amount upfront, with the remaining 75 percent payable within 18 months. The warrants, once fully paid, are eligible to be converted into equivalent equity shares.

With this accelerated allotment, Reliance Infrastructure Ltd., the promoter company, has been allotted 9.55 crore equity shares, while Basera Home Finance Pvt Ltd, a public investor, has received 1 crore equity shares.

The firm further noted that this strategic infusion of fresh equity not only fortifies Reliance Power’s capital base but also enhances its financial flexibility at a time when the company is steering aggressively toward clean and sustainable energy solutions.

A notable highlight of this development is Reliance Power’s continued zero-bank debt position.The company emphasised that this capital boost will significantly support its growth ambitions, particularly in the renewable energy segment, where it aims to play a larger role as India transitions to a greener energy mix.