Reliance Power allots 228.5 mln shares to Reliance Infra

The shares were allotted after converting 2.28 bln rupees of debt into equity shares, the company said. Each share had a face value of 10 rupees

FPJ Web DeskUpdated: Saturday, December 31, 2022, 01:06 PM IST
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Reliance Power allots 228.5 mln shares to Reliance Infra | Image credit: Reliance Power (Representative)

Reliance Power Ltd has allotted 228.5 mln shares to its promoter Reliance Infrastructure Ltd, the company said in a press release.

With this, Reliance Infrastructure owns a 22.7% stake in Reliance Power.

The company said that the shares were allotted after converting 2.28 bln rupees of debt into equity shares. Each share had a face value of 10 rupees.

As of March 31st, the private energy company had a standalone turnover of 418.9 mln rupees.

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