HomeIndia NewsAnil Ambani's Reliance Power shares soared more than 8 percent after VIPL...

Anil Ambani’s Reliance Power shares soared more than 8 percent after VIPL debt settlement offer – Business News India

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Anil Ambani’s company Reliance Power’s shares have gained a lot on Friday. Shares of Reliance Power climbed over 8% to Rs 13.90 on the BSE on Friday. Shares of the Anil Ambani-led company had closed at Rs 12.86 on the BSE on Thursday. The 52-week high level of Reliance Power shares is Rs 24.95. At the same time, the 52-week low level of the company’s shares is Rs 9.05.

Shares of the company climbed more than 21% in 4 days
Shares of Anil Ambani’s company Reliance Power have climbed more than 21% in the last 4 days. Shares of Reliance Power closed at Rs 11.42 on BSE on May 22, 2023. The company’s shares have reached Rs 13.90 on BSE on 26 May 2023. In the last one month, Reliance Power shares have gained about 17%. At the same time, in the last 6 months, the shares of Reliance Power have fallen by about 14%. The promoter’s stake in the company is 24.99%.

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One-time settlement offer of Rs 1200 crore
Anil Ambani Group company Reliance Power has made a one-time settlement offer of Rs 1200 crore to lenders to settle the debt of its subsidiary Vidarbha Industries Power Limited (VIPL). As per the proposal, Reliance Power will give upfront cash of around Rs 1,200 crore to lenders including State Bank of India (SBI), Axis Bank, Bank of Baroda, PNB, Canara Bank and Bank of Maharashtra. However, according to the data till 31 March 2022, Vidarbha Industries Power Limited (VIPL) has a debt of about Rs 2200 crore.

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Disclaimer: Information provided here is only about stock performance and does not constitute investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.



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