Another good news has come for Mukesh Ambani's younger brother Anil Ambani. This time the good news has come from outside the country. In fact, Rosa Power, a subsidiary of Reliance Power, has paid its debt ahead of time. The special thing is that the way Rosa Power is paying its debt, it can soon become debt free like Reliance Power. After this news, Reliance Power's stock has been in an upper circuit of 5% for the fifth consecutive day. Let us also tell you what other information has come out about this company of Anil Ambani.
Reliance Power subsidiary Rosa Power has made an early payment of Rs 850 crore of debt to Singapore lender Verde Partners. After Reliance Power's achievement of zero debt, Rosa Power is now on its way to becoming debt-free. The company aims to settle its remaining debt in the next quarter, and complete the process before the end of the current financial year. Rosa Power, which operates a 1,200 MW coal-based thermal power plant at Rosa village near Shahjahanpur in Uttar Pradesh, has its sole lender Verde Partners.
Reliance Power's board of directors on Monday approved a preferential issue, with over Rs 600 crore coming from its promoter company Reliance Infrastructure, and the remaining Rs 900 crore from Authum Investment and Infrastructure Limited and Sanatan Financial Advisory Services. According to a regulatory filing, the company's preferential issue is expected to increase Reliance Power's net worth from Rs 11,155 crore to over Rs 12,680 crore.
The special thing is that Reliance Power's shares have seen a rise for the 10th consecutive trading day. On September 11, the company's share was Rs 29.57. Since then, it has been witnessing a continuous increase. After which the company's share has come to Rs 42.06. Which is a 52-week high. In these 10 trading days, the company's share has seen an increase of 42.24 percent. By the way, the company's share hit an upper circuit of 5 percent on Wednesday. In the last 10 trading days, the company's market cap has seen an increase of Rs 5,017.2 crore. At present, the company's market cap has reached Rs 16,895.38 crore.
