In a scenario where we have power purchase agreements and the SEBs are in financial strife, we would always get supported, as our cost of generation is lower than most other plants.
Two ultra mega power projects are coming up at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Two Anil Ambani group companies, Reliance Power and Reliance Natural Resources, on Monday said their respective shareholders have approved merger between the two entities, estimated to create a Rs 50,000-crore (Rs 500 billion) entity.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Anil Ambani Group firm Reliance Power has chalked out an ambitious plan to invest about Rs 80,000 crore (Rs 800 billion) in the next three years for creating 20,000 MW of thermal power generation capacity.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
Reliance Power on Friday said it would acquire 433 Mw of power generation assets from group company Reliance Infrastructure (R-Infra) for Rs 1,095 crore, to bring the entire power generation portfolio under one roof. Global consulting company KPMG valued the assets for the intra-group transfer, the company said in a statement.
Anil Ambani-led Reliance Power's board will on July 4 consider merging another group firm Reliance Natural Resources with itself.
The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
The shares of the Mukesh and Anil Ambani group companies were on fire on Monday following the brothers burying their hatchet, with RIL gaining 2.58 per cent and Reliance-Power rallying 7.86 per cent.
Reliance Power's plans are to set up a 7,480-Mw project, which will be the largest gas-fired power project at a single location in the world.
Anil Ambani-promoted Reliance Power (R-Power) has signed a supplementary power purchase agreement (PPA) with fourteen buyers from seven states for its upcoming 4,000-MW ultra mega power project (UMPP) in Sasan.
The 300 mw Group Captive Power Project (GCPP) being set up by Vidarbha Industries Power (VIPL), a special purpose vehicle (SPV) formed by Reliance Power, at Butibori near Nagpur in Maharashtra, will soon enter the construction phase. Sources said the required land has been acquired and the Maharashtra Pollution Control Board (MPCB) has given the green signal for setting up the project. Reliance Power will soon award the EPC contract for the Rs 1500 crore project.
Further the shareholders have accorded their approval for issue of bonus shares in 3:5 ratio, wherein three new equity shares would be alloted for every five existing equity shares held, the company added. The company had recommended the issue of 13.68 crore (Rs 136.8 million) bonus shares in the ratio of three new equity shares of Rs 10 each for every five existing equity shares of Rs 10 held by the shareholders of the company in the public category.
Reliance Power is yet to get a new CEO after J P Chalasani quit as managing director and chief executive officer.
The Anil Ambani group asked on Wednesday market regulator Securities and Exchange Board of India to probe a "disinformation campaign" launched by some "vested interests" against the planned Reliance Power IPO, estimated to raise up to Rs 12,000 crore (Rs 120 billion). "A formal complaint has been filed with Sebi to investigate the disinformation campaign launched against Reliance Power IPO," a Reliance ADA group spokesperson said in a statement.
Anil Ambani group's Reliance Power appears to have failed to hold back a large number of foreign and domestic shareholders, even by offering bonus shares, yet it remains the most widely held entity in India.Among the institutional investors, a marked decline has been in the number of FIIs, while that of domestic institutions has also fell to 103, from 345 previously.
Reliance Power (R-Power), which raised over Rs 12,000 crore (Rs 120 billion) in India's biggest initial public offering in January, will consider issuing bonus shares to its shareholders, excluding the promoter group.
The Reliance Dhirubhai Ambani Group revealed plans of venturing into the power equipment business.
Don't count too much on the anchor investor quota, as it will provide stability to the stock for only a short period
In a determined bid to salvage Reliance Power's IPO, which received a severe blow on its listing day, group chairman Anil Ambani on Sunday announced three bonus shares for every five held by non-promoter shareholders to bring down the cost of acquisition from Rs 430 to Rs 269.
The group is set to become the second largest Indian corporate in terms of market value.
According to one calculation, Reliance Power IPO is likely to gain close to $27 billion for Anil Ambani, which when combined with the existing market capitalisation of his companies will work out to be close to $75 billion!
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
R-Power has asked its shareholders to pay up the balance payment by Feb 26, to avail of bonus shares.
With the listing of Reliance Power, the market cap of Anil Ambani group aggregated to Rs 307,112 crore (Rs 3,071.12 billion), almost Rs 100,000 crore (Rs 1,000 billion) below expectations of Rs 400,000 crore (Rs 4,000 billion) capitalisation.
Power sector firms that entered the capital market this year include Power Finnace Corp and PowerGrid Corp. Besides, there have been smaller issues from Suryachakra Power and Indowind Energy, which mopped up nearly Rs 135 crore (Rs 1.35 billion) collectively from their IPOs.
Supreme Court has put a halt to proceedings against RPL in the Gujarat high court, following a PIL filed against Reliance Power's upcoming IPO.
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Combined profit before tax of 81 firms down 37.5% y-o-y, worst show in at least 3 years.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Narendra Modi-led National Democratic Alliance government has given environment clearance to five projects since it took charge on May 26.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
P Sampath, the current CFO, moves to a new role as the President of Business Optimisation and Improvement for Essar Energy plc, the company said in a press statement.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
Power developer Reliance Power on Monday sought tax concessions from the government to spur investment in the sector even as it doubted if the target of providing power for all by 2012 could be achieved.
The company wants 'economic restitution' due to rupee depreciation and changes in law.
The company is building floating LNG terminal in joint venture Reliance Power.
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