Stock Market today: Multibagger Reliance Power share price that hit 1 year high of ₹54.25 after gaining more than 80% in a month , however was locked in 5% lower circuit thereafter.
The Reliance Power share price opened at ₹54.25 on the BSE on Friday more than 1% higher than the previous close of ₹53.65. Reliance Power share price also hit 1 year high (52 week high ) of ₹54.25 on the BSE.
Reliance Power share price thereafter slipped 5% hitting lower price band or circuit limit at ₹50.97 on the BSE.
On the NSE also Reliance Power share price was locked in lower price band of ₹50.95 , down 5%. Reliance Power share price had scaled 1 year high of ₹53.60 on the NSE on Thursday itself.
The Reliance Power share price has gained more than 170% in a year and thereby given Multibagger returns to the investors.
The Reliance power share price also had gained more than 80% in a year prior to todays correction.
Reliance Power share price remains in focus as after reducing debt substantially is now raising funds.
Reliance Power in focus on settlement of debt obligations and fund raising
The Board of Directors of Reliance Power at a Meeting held on Thursday, October 03, 2024, approved Issue of up to $ 500 million ( ₹4,200 crore) ultra-low cost interest of 5% per annum, unsecured, 10 year long tenure Foreign Currency Convertible Bonds (FCCBs), on private placement basis to affiliates of Värde Investment Partners, LP.
Reliance Power on September 17 announced the settlement of obligations worth ₹3,872.04 crore debt towards the corporate Guarantee to the lenders of its former subsidiary, Vidarbha Industries Power Limited (VIPL), as per an exchange filing.
Reliance Power, the listed entity as per its exchange filings has zero debt from banks and financial Institutions
The net worth of Reliance Power is ₹11,155 Crore as on June 30, 2024 On a consolidated basis
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