Lenders Invoke 10.19 Crore Pledged Shares Of Reliance Power
Power lines hang over building tops in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Lenders Invoke 10.19 Crore Pledged Shares Of Reliance Power

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Lenders invoked 10.19 crore shares of Reliance Power Ltd. that were pledged by promoter entity Reliance Infrastructure Ltd., according to a regulatory filing.

The total market value of these 10.19 crore shares at Rs 3.30 per share on the BSE works out to be Rs 33.62 crore. The shares have a face value of Rs 10 each.

Reliance Infrastructure, which is another Group firm had encumbered shares in favour of Axis Bank, Reliance Power said in a BSE filing.

After the invocation of these 10.19 crore shares, which constitute 3.63 percent of share capital, Reliance Infrastructure's holding has come down to 22.34 percent in Reliance Power, as per the filing.

Before invocation of these shares, Reliance Infrastructure was holding 25.97 percent of share capital in Reliance Power.

Also read: Reliance Communications Lenders Reject Resignation Of Anil Ambani, Four Directors

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