Reliance Power all set for Rp2bn, TCNS Clothing files

By Jonathan Breen
01 Mar 2018

Reliance Power will seek shareholder approval for a Rp20bn ($306.8m) qualified institutional placement, after its board of directors approved the deal this week.

The company has planned the fundraising to strengthen its financial position, reducing its outstanding debt and that of its subsidiaries. Other proceeds will be used for general corporate purposes.

The firm is part of the Reliance Group, one of India’s largest conglomerates, with businesses in telecommunication, financial services, ...

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