Reliance Power Share: Anil Ambani’s debt free company Reliance Power’s shares are in focus these days. Reliance Power’s shares rise by 2% during trading on Tuesday to an intraday high of Rs 31.80. Earlier on Monday, this stock had gained 3%.
The company’s market cap is Rs 12,565.09 crore and the stock has given a strong return of more than 90 percent in the last 1 year. Since the year 2020, this stock has climbed about 2665% so far. Let us tell you that on 27 March 2020, the price of this share was Rs 1.50.
However, since the year 2008, the share of Reliance Power has fallen from Rs 275 to the current price.
LIC’s major stake
According to the shareholding pattern of Reliance Power, promoters hold 23.24 per cent stake, while public investors hold 60.99 per cent stake. Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) hold 12.71 per cent and 3.06 per cent stake respectively. LIC holds a major stake in Reliance Power. LIC holds 10,27,58,930 shares or 2.56% stake in the company.
The company is debt free
Reliance Power has recently repaid all the outstanding debt of the lenders and has now become a debt-free company on a standalone basis. Let us tell you that Reliance Power had an outstanding debt of about Rs 800 crore, which has been recently repaid to the banks.
Reliance Power signed several debt settlement agreements with various banks including IDBI Bank, ICICI Bank, Axis Bank and DBS between December 2023 and March 2024.
company business
Reliance Power Limited, formerly Reliance Energy Generation Limited, is a part of the Reliance Anil Dhirubhai Ambani Group. It was established to develop, construct, operate and maintain power projects in the Indian and international markets.