Reliance Power & its arm to raise ₹1,200 crore debt

Reliance Power Ltd (RPL) and its subsidiary have entered into an indicative memorandum of understanding with Varde Partners, a global alternative investment firm, to raise debt funding of up to ₹1,200 crore ($150 million) for settlement and discharge, acquisition or restructuring of certain financial debt availed of by the company.

"The drawdown of the debt will be subject to finalization and execution of binding documents and all requisite approvals including regulatory approvals as per applicable rules/ laws/ regulations," RPL said in a statement.

RPL shares closed at ₹23.30 apiece on the BSE on Monday, up 9.91% from the previous close.


Part of the Reliance Group, RPL is a private sector power generation and coal resources company. It has one of the largest portfolios of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.

Varde Partners is a leading global alternative investment firm specialising in credit and credit-related assets.