Mon Oct 07 09:32:53 UTC 2024: ## Reliance Power Secures $500 Million in Funding from Värde Investment Partners
**Mumbai, India** – Reliance Power has secured a significant $500 million (₹4,200 Crore) investment through the issuance of unsecured foreign currency convertible bonds (FCCBs) to affiliates of Värde Investment Partners, LP, a prominent global alternative investment firm.
This marks the company’s second major fundraising effort in recent months, following a ₹1,525 Crore cash raise through preferential allotment in September. The proceeds from both fundraises will be utilized for various strategic initiatives, including business growth, investment in subsidiaries and joint ventures, debt reduction, and general corporate purposes.
The FCCBs will carry an ultra-low interest rate of 5% per annum and have a 10-year maturity period. Reliance Power’s board of directors approved the issuance of these bonds through a private placement.
In addition to the FCCB issuance, the company has also established an employee stock option scheme (ESOS). This scheme, to be administered by the company’s Nomination and Remuneration Committee, will offer options to eligible employees. The ESOS is subject to shareholder approval and necessary regulatory sanctions.
This latest funding injection signals Reliance Power’s commitment to strengthening its financial position and pursuing growth opportunities. The company’s strategic partnerships with reputable global investors like Värde Investment Partners underscore its ability to attract capital and support its future ambitions.
First Piper 