Reliance Power allots 59.50 cr equity shares, 73 cr warrants to RInfra
Consequent to approval from shareholders, through postal ballot, Reliance Power Ltd (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 Ltd (Reliance Infrastructure), a listed promoter company.
Post allotment, the holding of Reliance Infrastructure and other promoter group in Reliance Power increased to 24.98 per cent and may further increase to 38.24 per cent 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.
