Reliance Power arm Rosa prepays ₹485 crore to Varde Partners, turns 'zero debt firm'

Mumbai: Rosa Power Supply Company, a subsidiary of Reliance Power, has prepaid a ₹485-crore loan to Singapore-based lender Varde Partners.

In a regulatory filing to the BSE on Wednesday, Reliance Power said, "By prepaying this loan, Rosa Power, has achieved a zero-debt status, fully settling its outstanding debt by payment of ₹1,318 crore to Varde ahead of the original schedule."

Earlier in September, Rosa Power prepaid ₹833 crore to Varde Partners.


The company operates a 1,200 mega watt coal-based thermal power plant in Rosa village near Shahjahanpur, Uttar Pradesh.

"The strengthening of Rosa Power's balance sheet, along with a recent ₹1,525 crore equity linked warrants preferential issue, will support Reliance Power in pursuing business opportunities, in the fast-growing clean green renewable energy sector," the filing stated.

It added this preferential issue will boost Reliance Power's net worth from ₹11,155 crore to over ₹12,680 crore. "The listed entity has zero bank debt," the Anil Ambani-led company said.

On Wednesday, Reliance Power's scrip closed at ₹43.47, up 5% on the BSE.