Rs 10.19 Crore of Shares of Reliance Power Invoked by Lenders

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

The total market value of these 10.19 crore shares at Rs 3.30 per share on the Bombay Stock Exchange 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 per cent of share capital, Reliance Infrastructure’s holding has come down to 22.34 per cent in Reliance Power, as per the filing.

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