Reliance Infrastructure would hold 24.88 per cent and the aggregate shareholding of the promoter group would be 24.95 per cent of the paid-up equity share capital of the company post the allotment.

Reliance Power’s board of directors approved the issue of preferential shares to raise ₹1,524.60 crore, the company said in an exchange filing on Monday.

Reliance Power shares have shown strong performance across multiple time frames, delivering a 10.64% return in the past month and a 38.22% increase over six months. Year-to-date, the stock has surged 59.

Reliance Power shares surged 5% after the company announced a preferential issue of equity shares worth Rs 1,524.60 crore, aimed at strengthening its financial position and expanding into renewable energy.