Reliance Power announced on Wednesday that it has successfully raised Rs 348.15 crore through a preferential issue of shares. As part of this initiative the company issued 9.55 crore equity shares to its promoter Reliance Infrastructure and 1 crore shares to Basera Home Finance Private Limited a public entity. The 10.55 crore fully paid-up equity shares have been issued at a price of Rs 33 per share (including a premium of Rs 23 per share) aggregating to Rs 348.15 crore it said. The capital infusion will strengthen companys growth trajectory in the renewable energy sector. The company made a preferential issue of 46.20 crore warrants aggregating Rs 1525 crore in October 2024.A minimum upfront amount of 25 per cent was paid on the warrants and the balance 75 per cent was payable in 18 months. Fully paid warrants are convertible into equivalent number of equity shares. Reliance Power said it maintains a zero-bank debt position ensuring a strong unleveraged balance sheet. This enhances financial flexibility and supports sustainable growth positioning the company to capitalize on future opportunities and drive long-term value creation. Part of Reliance Group Reliance Power is a leading private sector power generation company with an operating portfolio of 5305 megawatts which includes 3960 megawatts Sasan Power.  It was founded by Dhirubhai H. Ambani. Reliance Power is currently led by Anil Ambani who is the Chairman and shareholder of the company. Anil Ambani also heads the broader Reliance Group and as a leader handles the companys operations and strategic direction. (With Inputs From PTI)