Home BusinessGood days over for Anil Ambani? Will Reliance Power shares fall to Rs 30 again?
Reliance Power recently made a strategic move by allotting a massive amount of 46.20 crore equity shares, which are valued at a sky-high Rs 1,524.60 crore.
Anil Ambani File image
In a huge setback for Mukesh Ambani’s brother Anil Ambani, Reliance Power Ltd saw its shares hit a 5% low on trading Friday, breaking away from its 15 consecutive successful days. The severe dip in the share prices came in the wake of the company’s announcement that it intends to privately place Foreign Currency Convertible Bonds (FCCBs) amounting to Rs 4,200 crore with the affiliate of Värde Investment Partners. The fund-raising decision was…
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