Anil Ambani-owned Reliance Power shares hit 5% upper circuit in morning trade after the company declared a board meeting date to consider and approve the fundraising proposal.
The firm board scheduled the meeting for September 23, 2024, which is today. The company’s share price rose to an intraday high of ₹38.15 on the NSE, ahead of the board meeting
In the exchange filing, the company shared, “We wish to inform you that a meeting of the Board of Directors of the Company will be held on Monday, September 23, 2024, inter alia, to consider and approve raising of long term resources from domestic and/or global markets, inter alia, by the issue of equity shares/equity-linked securities/ warrants convertible into equity shares, by way of a preferential issue and/or qualified institutional placement and/or rights issue and/or foreign currency convertible bonds or any other method including determination of issue price, if any and seeking members’ and other approval(s), as the Board may deem appropriate.”
