Reliance power share price

Reliance Power jumps after inking pact to raise fund from Varde Partners. Read on to check details.

[Reliance Power Limited](https://www.cnbctv18.com/tags/reliance-power.htm), a part of the Reliance Group, is India’s private sector power generation and coal resources company. [Värde Partners](https://www.cnbctv18.com/tags/varde-partners.htm)is a leading global alternative investment firm specializing in credit and credit-related assets. The drawdown of the debt will be subject to finalization and execution of binding documents and all requisite approvals including regulatory approvals as per applicable rules/ laws/ regulations. The benchmark Sensex index was 0.63 percent up at that time. The Company has one of the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts. Reliance Power Limited (RPL) jumped over 9 percent to Rs 23.30 after the company said it will raise long term resources up to Rs 1,200 crore ($150 million) from Varde Partners.

RPL will raise jointly with a subsidiary, the company said in a stock exchange update.

The Piramal Group, controlled by billionaire Ajay Piramal, had acquired DHFL for a total consideration of Rs 34,250 crore in 2021 and then merged it with PCHFL. The firm intends to raise the funding through the issuance of equities and securities. RNRL, which was merged with Reliance Power in 2010, had obtained a loan from The US-based investment firm is also a bidder for the two debt-ridden Srei group companies, Srei Infrastructure Finance and Srei Equipment Finance, which are undergoing a bankruptcy process. RPL will raise jointly with a subsidiary, the company said in a stock exchange update. Following the deal, the company’s share prices closed up 9.91% on the BSE.

Anil Ambani group's Reliance Power Ltd (RPL) has signed an agreement with Varde Partners, a global investment firm focused on credit and distressed assets ...

[Financial Services](/topic/financial-services). [financial debt](/topic/financial-debt)availed by RPL,” Reliance Power said in a regulatory filing on September 5. [Reliance Group](/topic/reliance-group), is a private sector power generation and [coal resources company](/topic/coal-resources-company).

In a latest development Reliance Power and its subsidiary have signed a pact with Varde Partners for availing of debt of up to Rs 1200 crore.

Reliance Power Stock Outlook: Soon after the announcement, shares of Reliance Power surged by 9.91% on BSE at 23.30 apiece. About Varde Partners: Varde Partners is a leading global alternative investment firm specialising in credit and credit-related assets. Reliance Power Market Capitalization: The company has a market capitalization of Rs 7, 922.29 crore at the time of writing the story.