2024-09-25 17:36:30
New Delhi: Are good days coming for heavily indebted industrialist Anil Ambani? His companies are rapidly reducing their debt. Along with this, now his companies have also started getting investors. Stock market operator Sanjay Dangi and equity investor Sanjay Kothari are ready to invest Rs 925 crore in Anil Ambani’s power company Reliance Power. Both of them are high net worth investors. The company’s stock has been touching the upper circuit for the last four consecutive days. Reliance Power, which brought an IPO of Rs 11,560 crore in 2008, wants to raise a total of Rs 1,525 crore by issuing new equity shares or convertible warrants to its promoters and select investors. This move is part of Reliance Power’s strategy to reduce debt and support its green energy initiatives. Reliance Power’s promoter Reliance Infrastructure will invest Rs 600 crore in the company. This will increase its stake in the company from the current 23% to 25%. According to the June 2024 regulatory filing, Reliance Infra’s 80% stake in Reliance Power is still locked. Sanjay Dangi had earlier acquired Reliance Commercial Finance and Reliance Home Finance. His investment company Authum Investment and Infrastructure will be allotted shares or convertible warrants worth Rs 675 crore.
Action against Anil Ambani’s son Anmol, fine of Rs 1 crore, what is the matter?
stock movement
This will give Sanjay Dangi a 6% stake in Reliance Power. He currently holds about 2% stake in the company. Former Enam executive Sanjay Kothari will invest Rs 250 crore in Reliance Power through Sanatan Financial Advisory Services. This will give him 1.7% stake in the company. Reliance Power told stock exchanges that it will issue 46.2 crore shares or convertible warrants at a price of Rs 33 per share. On Monday, the company’s shares closed at Rs 38 on the BSE.