Just a few days after Diwali, another good news has come for Anil Ambani’s company Reliance Power. Their bad times are now slowly getting back on track. Reliance Power’s subsidiary company Rosa Power Supply Company has repaid the outstanding loan of Rs 485 crore to Singapore-based Varde Partners. In this way, a total loan of Rs 1,318 crore has been paid ahead of time by the company. With this payment, Rosa Power Supply Company has become debt-free.
Anil Ambani’s company made an advance payment of Rs 833 crore in September
Earlier in September, an advance payment of Rs 833 crore was made to Varde Partners by Rosa Power. After this, now Rs 485 crore has been paid. Let us tell you that Rosa Power runs a 1,200 MW coal-based thermal power plant in Rosa village near Shahjahanpur in Uttar Pradesh. Along with strengthening the balance sheet, Rosa Power will support Reliance Power in pursuing business opportunities in the fast-growing clean green renewable energy sector with the recently issued equity-linked warrants of Rs 1525 crore.
Anil Ambani’s net worth increased by Rs 1500 crore
With the issuance of this preferential share, the company’s net worth will increase from Rs 11155 crore to more than Rs 12,680 crore. Apart from this, due to no loan obligation to the banks, Reliance Power’s target is to pursue growth opportunities in the clean green power sector. Reliance Power is one of the leading power generation and coal resources companies in the private sector of the country. It has the largest portfolio of power projects based on coal, gas, hydropower and renewable energy in the private sector.
Performance of Anil Ambani’s companies’ shares
Reliance Power, a part of Reliance Group, has an operational portfolio of 5,300 MW. After this news, Reliance Power’s stock has been witnessing a continuous rise for the last two days. On Wednesday, the stock closed at Rs 43.47 with an upper circuit of 5 percent. After this, the stock is also witnessing a rise on Thursday morning. The stock which opened at Rs 44.45 touched a high of Rs 45.63. With this, the market cap of the company increased to Rs 17,915 crore.
