Reliance Power raises Rs1,000 crore from Varde Partners

13 Oct 2022 , 09:15 AM

Reliance Power Limited and its subsidiaries have entered into definitive agreements with Varde Partners to raise debt of about Rs1,000 crore.

The transaction is subject to the fulfillment of conditions precedent outlined in the final instruments. The revenues will be used to settle and discharge/restructure existing obligations, resulting in debt resolution and an improved credit profile.

Reliance Power Limited, a Reliance Group subsidiary, is India’s foremost private sector power generating and coal resources company. With an operating portfolio of 5,945 megawatts, the company maintains one of the largest private sector portfolios of power projects based on coal, gas, hydro, and renewable energy.

At around 9.16 AM, Reliance Power was trading at Rs16.30 down by 0.91% from its previous closing of Rs16.45 on the BSE.

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