The approval came in a meeting held today after market hours and the decision was communicated to the exchanges following the conclusion of the meeting.
The Anil Ambani promoted company plans to raise funds through the issuance of equity shares or equity linked instruments to qualified institutional buyers (QIBs).
The company’s board also approved issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or otherwise.
The stock has been a multibagger, rallying 130% over the past one year. It has significantly outperformed headline indices BSE Sensex and Nifty whose returns in the same period stand at 2.5% and 2.4%, respectively. In 2025, so far, the stock has yielded 48%.
Reliance Power shares today ended the session at Rs 66.09 on the NSE, gaining by Rs 1.56 or 2.42%. Reliance Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 59.1 and Rs 45.3, respectively according to Trendlyne data. But the rally has not come without its share of volatility as the stock has traded at a high beta of 1.1.Reliance Power reported a consolidated net profit of Rs 126 crore in the quarter ended March 31, 2025 due to lower expenses. The company had reported a loss of Rs 397.56 crore in the quarter ended on March 31, 2024, a regulatory filing showed. Total income dipped to Rs 2,066 crore in the later fourth quarter from Rs 2,193.85 crore in the same period a year ago.
