Mon Sep 30 04:15:51 UTC 2024: ## Reliance Power Soars to New Highs on Debt Prepayment News

**Mumbai, India (September 27, 2024):** Shares of Anil Ambani-led Reliance Power surged to a fresh high on Friday, closing 5% higher after the company announced its subsidiary, Rosa Power, had pre-paid ₹850 crore of its debt to Singapore-based lender Varde Partners. This follows Reliance Power’s successful achievement of zero debt.

The stock closed at its upper circuit on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at ₹46.35 and ₹46.36, respectively. The company’s total market capitalization reached ₹18,618.66 crore.

Reliance Power’s strong performance can be attributed to the positive news surrounding Rosa Power’s debt prepayment. The subsidiary is now on track to become completely debt-free within the next quarter, aiming to settle all remaining obligations before the end of the current financial year.

This announcement further strengthens Reliance Power’s position in the market, signaling a positive outlook for the company’s future.

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