Reliance Power to raise Rs 1,000 crore via NCD issue

Reliance Power plans to raise up to Rs 1,000 crore through issue of non-convertible debentures, the company informed the bourses Friday.

The company’s board approved the enabling resolution for fun raising in a meeting Friday. The fund raising may happen in one or more tranches. The company will set the coupon and tenure at the time of the issue.

The company did not disclose the purpose of the fund raising.

At 14:10 IST, shares of Reliance Power were trading at Rs 46.50 on the Bombay Stock Exchange, up 0.9%.