Reliance Power plans to raise Rs 1,000 crore via NCDs

Anil Ambani-led Reliance Power plans to raise Rs 1,000 crore through an issuance of non-covertible debentures.

"The Board of Directors of the company ... have given their in-principle approval to the company for an issue of non- convertible debentures for an aggregate amount not exceeding Rs 1,000 crore to be issued in one or more tranches," Reliance Power said in a filing to BSE.

The approval was accorded to the company in the board meeting held on Friday, it said.

The company further said the debentures to be issued may or may not be listed. However, in case they are listed, they will be listed on both, BSE and the National Stock Exchange.

"The debentures may be secured or unsecured as may be determined at the time of issue," the filing said.

Reliance Power, a part of the Reliance Group, is country's leading private sector power generation and coal resources company.