The board of Reliance Power on Wednesday approved a Rs 6,000 crore worth fundraising plan via the Qualified Institutions Placement (QIP) and other modes.
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.