Reliance Power Limited announced that it expects to receive INR 9.33 billion in funding from VFSI Holdings Pte. Ltd.

Reliance Power Limited announced that it will issue 600,000,000 common shares or warrants convertible into common shares at a price of INR 15.55 per common share or warrant for total gross proceeds of INR 9,330,000,000 on September 8, 2022. The transaction will include participation from VFSI Holdings Pte. Ltd. The shares or warrants convertible into equity shares will be issued through preferential allotment on a private placement basis.

The transaction has been approved by the board of directors of the company.