 "Yes Bank invokes pledged shares to acquire 30% stake in Reliance Power subsidiary's Uttar Pradesh unit")
New Delhi: Yes Bank on Tuesday said it has acquired around 30 percent stake in a wholly-owned subsidiary of Reliance Power pursuant to invocation of pledged shares.
The bank has acquired 12,73,21,500 equity shares having a nominal value of Rs 10 each per share constituting around 29.97 percent of the post-issue paid-up share capital of Rosa Power Supply Company Ltd (RPSCL), a wholly-owned subsidiary of Reliance Power Ltd, Yes Bank said in a regulatory filing.
“Shares have been acquired pursuant to invocation of the pledge of shares to RPSCL subsequent to default/breach of terms of credit facilities sanctioned by YES Bank to Reliance Power Ltd,” it added.
Incorporated on 1 September, 1994, RPSCL is engaged in the business of power generation.
The Rosa Thermal plant (1,200 MW) at Shahjahanpur in Uttar Pradesh, owned by the RPSCL generated 4,341 million units for the year ended 31 March, 2019
 "This Week in Explainers: Will recession in UK, Japan hit daily living?")
 "FirstUp: Nitish Kumar to seek trust vote, RLD to formally join NDA… The big stories today")
 "This Week in Explainers: What Uttarakhand’s Uniform Civil Code means for live-in couples")
 "Ram mandir consecration: Did Nihang Sikhs start the temple movement over a century back?")
 "This Week in Explainers: Will recession in UK, Japan hit daily living?")
 "FirstUp: Nitish Kumar to seek trust vote, RLD to formally join NDA… The big stories today")
 "This Week in Explainers: What Uttarakhand’s Uniform Civil Code means for live-in couples")
 "Ram mandir consecration: Did Nihang Sikhs start the temple movement over a century back?")