Reliance Power was locked in upper circuit of 5% to Rs 26.27 after the company has said that it has fulfilled all of its obligations under the Settlement Agreement with regard to its borrowings from DBS Bank India.
The company said that the 45 megawatt (MW) Wind Power Project’s assets are free of the encumbrance as a consequence of the Settlement Agreement dated 5 January 2024.
Earlier in January, the company for the purpose of debt settlement had signed a settlement agreement with DBS Bank India (DBS) on 5 January 2024, in settlement of the entire obligations with respect to its borrowings.
