Varde Partners to pick up 15% in Reliance Power for Rs 933 crore
Reliance Power on Thursday said that it would raise Rs 933 crore through a private placement of shares to VFSI Holdings, an affiliate of investment firm Varde Partners. This would result in VFSI picking up a 15 per cent stake in the company.
The announcement comes within days of Reliance Power stating that it would raise upto Rs 1,200 crore from Varde Partners, a global alternative investment firm specialising in credit and credit-related assets.
The private placement of shares announced on Thursday following a board meet will happen at Rs 15.55 apiece, the company said in a filing to the stock exchanges.
