Reliance Power Shares Jump Over 4%: Subsidiary Rosa Power Achieved Debt-Free Status

Reliance Power, led by Anil Ambani, is in focus ahead of its quarterly results for the period ending September 30, 2024. On November 6, 2024, the company announced via an exchange filing that its subsidiary, Rosa Power Supply Company Limited (Rosa Power), has repaid a ₹485 crore loan to Singapore-based lender Varde Partners ahead of schedule.

Repayment of All Outstanding Debt

With this repayment, Rosa Power has successfully cleared all of its outstanding debt, becoming a zero-debt company. This follows an earlier payment of ₹833 crore to Varde Partners in September 2024, bringing the total debt repayment to ₹1,318 crore—well ahead of the original timeline.

Rosa Power operates a 1,200 MW coal-based thermal power plant in Rosa village, near Shahjahanpur, Uttar Pradesh. The company’s strengthened balance sheet, along with a recent preferential issue of ₹1,525 crore in equity-linked warrants, positions Reliance Power to capitalize on growth opportunities in the rapidly expanding clean and renewable energy sector. This preferential issue will increase the company’s net worth from ₹11,155 crore to over ₹12,680 crore. Additionally, Reliance Power remains debt-free at the bank level.

On November 07, 2024, Reliance Power shares opened at ₹44.45 and touched the day high of ₹45.63 at 09:40 AM

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