Reliance Power Ltd allots shares, warrants to Reliance Infrastructure Ltd

Reliance Power Ltd had today made preferential allotment of 59,50,00,000 Equity Shares of Rs 10/- each and 73,00,00,000 Warrants convertible into equivalent number of equity shares through preferential allotment to Reliance Infrastructure Limited, the Promoter.

Consequent to approval from Shareholders, through postal ballot, Reliance Power Limited (Reliance Power), has allotted 59.50 Crore equity shares and 73 Crore warrants convertible into equivalent number of equity shares of the Company by conversion of debt, to Reliance Infrastructure Limited (Reliance Infrastructure), a listed promoter company.

Post allotment the holding of Reliance Infrastructure and other promoter group in Reliance Power increased to 24.98% and may further increase to 38.24% on conversion of warrants, which shall be subject to compliance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and other provisions of law, as and when applicable.

Shares of RELIANCE POWER LTD. was last trading in BSE at Rs. 13.12 as compared to the previous close of Rs. 13.41. The total number of shares traded during the day was 4097604 in over 11279 trades.

The stock hit an intraday high of Rs. 13.79 and intraday low of 12.9. The net turnover during the day was Rs. 54363525.

Shares of RELIANCE INFRASTRUCTURE LTD. was last trading in BSE at Rs. 80.65 as compared to the previous close of Rs. 82.75. The total number of shares traded during the day was 987190 in over 1337 trades.

The stock hit an intraday high of Rs. 84.9 and intraday low of 79.5. The net turnover during the day was Rs. 80506077.

Source : Equity Bulls

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