Vidarbha Industries Power Limited (VIPL) ceases to be a subsidiary of Reliance Power Ltd and the entire obligations of the Company as a Guarantor on behalf of VIPL stands fully settled resulting in release and discharge of Corporate Guarantee, Undertakings and all obligations and claims thereunder in relation to the outstanding debt of VIPL amounting to Rs 3872.04 Crore.
The pledge over 1,49,16,260 shares representing 100% equity share capital of VIPL, created by Reliance Power Limited and its subsidiary Rosa Power Supply Company Limited, was enforced by Axis Trustee Services Limited as trustee for CFM Asset Reconstruction Private Limited and Axis Bank Limited, the lenders of VIPL (the "Lenders"), whereby all voting rights in respect of the shares of VIPL shall be solely exercised by them along with takeover of the management and control of VIPL by the Lenders. The entire obligations of the Company as a Guarantor on behalf of VIPL stands fully settled resulting in release and discharge of Corporate Guarantee, Undertakings and all obligations and claims thereunder in relation to the outstanding debt of VIPL amounting to Rs 3872.04 Crore.
Shares of Reliance Power Limited was last trading in BSE at Rs. 31.41 as compared to the previous close of Rs. 31.10. The total number of shares traded during the day was 7104185 in over 16872 trades.
The stock hit an intraday high of Rs. 31.88 and intraday low of 30.60. The net turnover during the day was Rs. 222537067.00. |
