Reliance Power Limited announced a private placement of 75,900,000 non-convertible preferential shares at a price of INR 20 per share for the gross proceeds of INR 1,518,000,000 on August 24, 2023. The transaction will include participation from new investor Reliance Commercial Finance Limited. The transaction has been approved by the board of directors of the company.

After this transaction, the investor will hold 2% stake in the company.