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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