India's Reliance Power , part of Anil Ambani's Reliance Group, said on Monday that it plans to raise up to 15.25 billion rupees ($183 million) through a preferential allotment.

Anil Ambani led company will take big decision on September 23 as it has announced its next board meeting today.

Reliance Infra announced a significant reduction in standalone external debt, lowering it from Rs 3,831 crore to just Rs 475 crore.

Reliance Group, led by Anil Ambani, embarks on a transformation journey with debt reduction and fund raising initiatives. The group aims to solidify its financial position and invest in growth sectors.

Reliance Power Ltd has updated about its next Board meeting for a fundraise. Reliance Power has settled all disputes with CFM Asset Reconstruction Private Limited (CFM). 100% shares of VIPL have been pledged in favour of CFM against the release and discharge of Corporate Guarantee given by Reliance Power.