Anil Ambani-owned Reliance Power share price extends rally for third straight session
Reliance Power share price gained over 2% on Thursday, extending its rally for the third consecutive session. The shares of Anil Ambani-owned company rose as much as 2.14% to ₹45.64 apiece on the BSE after its arm repaid debt worth $150 million to IIFCL, UK.
With today’s rally, Reliance Power shares have jumped more than 9% in three trading sessions.
Sasan Power, a subsidiary of Reliance Power, has made a bullet payment of $150 million to IIFCL, UK, fulfilling its debt obligation on 31 December 2024.
This repayment will bolster Sasan Power’s debt coverage metrics, improve liquidity, and enhance its credit rating, Reliance Power said in a regulatory filing on January 1.
Sasan Power operates a 3960 MW Ultra Mega Power Plant (UMPP) in Sasan, Madhya Pradesh, which is the world’s largest integrated coal-based power plant. It boasts a captive coal mining capacity of 20 MTPA.
“The loan repayment further strengthens Reliance Power’s balance sheet as the company transitions its focus toward the renewable energy sector, which is poised to drive future growth. Reliance Power, a zero-debt company, recently raised ₹1,525 crore through equity-linked warrants via a preferential issue. This capital infusion positions the company to capitalize on growth opportunities in the rapidly expanding renewable energy market,” Reliance Power said.
At 9:45 AM, Reliance Power shares were trading 1.16% higher at ₹45.20 apiece on the BSE.
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