Reliance Power raises Rs 15.25 billion through preferential issue

The Reliance Power board has approved a Rs 15.25 billion preferential issue comprising 462 million shares at a price of Rs 33 per share. The parent company, Reliance Infrastructure, will raise the equity stake by over Rs 6 billion. Other non-promoter investors include Authum Investment and Infrastructure, and Sanatan Financial Advisory. After the deal, Reliance Infrastructure will hold a 24.88 per cent stake in the company, and the promoter group will have a share of 24.95 per cent.