Reliance Power Rises from the Ashes: Anil Ambani’s Comeback Story
Anil Ambani’s Reliance Power has made a strong comeback, becoming debt-free on a standalone basis. As per a report by Business Standard, Reliance Power had a debt of approximately Rs 800 crore, which has now been paid off to lending banks. Over the past few months, the company has signed numerous debt settlement agreements with various banks, including ICICI Bank, Axis Bank, DBS, and IDBI Bank.
As a result of these settlements, Reliance Power is now a debt-free company on a standalone basis. The company has an equity base of Rs 4016 crore with participation from more than 38 lakh retail investors. It has an operating capacity of 5900 MW, including 3960 MW Sasan UMPP and 1200 MW Rosa Thermal power plant in Uttar Pradesh.
In 2008, Reliance Power shares were trading at around Rs 260.78. After a massive downfall, the share price plunged to Rs 1.13 on March 27, 2020. However, the company has made a slow recovery over the years, and Anil Ambani’s Reliance Power has once again gained the attention of traders. Reliance Power shares are now trading over Rs 26.15.
Anil Ambani was once one of the richest individuals in India and the sixth richest person in the world, with a net worth of over Rs 1.83 lakh crore. However, he declared bankruptcy before a UK court in February 2020. Despite these setbacks, Reliance Power’s recent success marks a significant comeback for Anil Ambani.
