Reliance Power to sell 15 per cent stake to VFSI Holdings

According to an exchange filing, Anil Ambani's Reliance Power (RPL) will reportedly raise Rs 9.33 billion by selling a 15 per cent stake in the company to VFSI Holdings. Issuance of up to 600 million equity shares and/or warrants convertible into equity shares via preferential allotment on a private placement basis to VFSI Holdings, and execution of an investment agreement with the investor, Reliance Power has reportedly stated. VFS Holdings is a subsidiary of global alternative investment firm Värde Investment Partners LP. Also read: Yes Bank, GIFT City tie-up to support fintech industry Uno Minda to expand manufacturing capacity