Reliance Power's shares surged to a 52-week high of Rs 42.06, hitting the upper circuit for six consecutive sessions, following the board's approval for a Rs 1,525 crore preferential offering., Compan

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. The company aims to use the funds for business expansion and debt reduction.

Anil Ambani’s Reliance Infrastructure shares surge amid fundraising plans. Despite recent regulatory challenges, the company is exploring various options to raise capital, including issuing new shares and convertible securities.

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.

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.

In three days -- from September 18 to September 20 -- the group announced it has turned into nearly zero and is implementing long-term fund raising plans that are said to solidify its financial position.