Overwhelming majority! Reliance Power shareholders approve preferential offer to RInfra with over 94% votes in favour
Accordingly, Reliance Power shall allot 59.50 Crore equity shares and 73 Crore warrants convertible into equivalent number of equity shares of the Company at a price of Rs.10 each by conversion of debt, aggregating upto Rs 1,325 Crore, to Reliance Infrastructure Limited (Reliance Infrastructure), a listed promoter company
The shareholders of Reliance Power Limited (Reliance Power), through postal ballot, have approved with overwhelming majority, preferential issue of equity shares and warrants.