Yes Bank invokes pledged shares to acquire 30% stake in Reliance Power subsidiary's Uttar Pradesh unit

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

Press Trust of India January 15, 2020 14:14:32 IST
Yes Bank invokes pledged shares to acquire 30% stake in Reliance Power subsidiary's Uttar Pradesh unit
  • Yes Bank has acquired 12.7 cr 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

  • 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

  • Incorporated on 1 September, 1994, RPSCL is engaged in the business of power generation

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.

Yes Bank invokes pledged shares to acquire 30 stake in Reliance Power subsidiarys Uttar Pradesh unit

Representational image. Reuters.

"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

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