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Reliance Power to issue shares, warrants worth Rs.1,325-Cr to RInfra
Source Mint (opens in a new tab)
The Reliance Power Ltd board has approved a preferential issue of 59.5 crore equity shares and 73 crore warrants worth INR 1,325 crore to its promoter firm Reliance Infrastructure (RInfra), at INR 10 apiece. The move is expected to reduce Reliance Power's standalone debt by INR 1,325 crore. Along with planned debt reduction in subsidiaries, Reliance Power's consolidated debt will reduce by INR 3,200 crore in FY22.