Reliance Power to Raise Rs 6,000 Crore via QIP
Reliance Power's board has approved a plan to raise Rs 6,000 crore through Qualified Institutions Placement (QIP) and other methods. The company aims to issue equity shares to qualified institutional buyers and also debentures worth up to Rs 3,000 crore. The stock has shown strong performance, outperforming major indices in the past year.
The board of Reliance Power approved a Rs 6,000 crore fundraising plan via Qualified Institutions Placement (QIP) and other modes. The company plans to raise funds through equity shares or equity linked instruments to qualified institutional buyers. They also approved issuance of debentures up to Rs 3,000 crore. The stock has rallied 130% in the past year, outperforming BSE Sensex and Nifty. Reliance Power shares closed at Rs 66.09 on the NSE, up by 2.42%. The stock is trading above its 50-day and 200-day SMAs. Reliance Power reported a net profit of Rs 126 crore in the quarter ended March 31, 2025.
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