Sri Krishna
In a significant financial move, Rosa Power, a subsidiary of Anil Ambani’s Reliance Power, has prepaid ₹850 crore of its debt to Singapore-based Varde Partners, according to sources reported by PTI. The company, which operates a 1,200 MW coal-based thermal power plant in Uttar Pradesh, is on course to become debt-free, aiming to settle its remaining debt within the next quarter, before the end of the financial year.
This move follows Reliance Power’s own transition to a zero-debt status. Rosa Power’s strengthened balance sheet, alongside a recent ₹1,525 crore preferential issue, will enable Reliance Power to explore new business ventures, particularly in the renewable energy sector.
The preferential issue, approved by Reliance Power’s board, will raise over ₹600 crore from its promoter company, Reliance Infrastructure, and ₹900 crore from Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. This initiative is expected to boost Reliance Power’s net worth from ₹11,155 crore to ₹12,680 crore, maintaining its zero-bank-debt standing.
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