Reliance Power’s shares jumped nearly 10% after the company announced it had cleared all its outstanding dues and become debt-free on a standalone basis.
Sources revealed that the company had a debt of around ₹800 crore, which has now been fully repaid to banks. Between December 2023 and March 2024, Reliance Power entered into several debt settlement agreements with banks including IDBI Bank, ICICI Bank, Axis Bank, and DBS. The company has successfully repaid all debts to these banks.
As of 12:30 PM, Reliance Power’s shares were trading 9.97% higher at ₹28.68.
