Reliance Power will try to raise funds through various ways including equity, preferential share sale and large institutional investors from institutional placements. The board of directors will take up the matter for discussion on October 3.
Anil Ambani-led Reliance Power has called a meeting of its Board of Directors on October 3. This will be the second such meeting after one was called on September 23.
According to reports, the company is looking to raise funds again through multiple options, the company said in exchange filing on September 27. The board of directors of Reliance power had already approved raising funds Rs 1524.60 crore through preferential issue.
Reliance Power will try to raise funds through various ways including equity, preferential share sale and large institutional investors from institutional placements. The board of directors will take up the matter for discussion on October 3.
The investors who engaged in preferential issue were Reliance Infrastructure Limited, Authum Investment and Infrastructure Limited.
Reliance Power said in an exchange filing for September 23 that it will use the funds for expansion of business operations, investment in subsidiaries and for clearing debts.
Earlier, the company had declared on September 17 that the listed company in Bombay Stock Exchange is debt-free from all banks.
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