HERE’S HOW Reliance Power’s consolidated debt will be reduced by Rs 3.2k cr during FY22 – HIGHLIGHTS of what happened at the board meeting

In a major development, the board of directors of Reliance Power Limited at its meeting held today, namely June 13, 2021, approved the preferential issuance of up to 59.5 crore of equity shares. and up to 73 crore in warrants convertible into an equivalent number of equity shares of the company upon issuance. Price of Rs. 10 each per debt conversion, totaling up to Rs. 1,325 crore to Reliance Infrastructure Limited, a listed development company.

In addition, the board of directors of Reliance Infra also approved Reliance Power’s proposal.

‘Reliance Power’s consolidated debt will be reduced by Rs. 3,200 crore in FY22’

This will reduce the stand-alone debt of Reliance Power by Rs. 1,325 crore and, along with the planned debt reduction in subsidiaries, the consolidated debt of Reliance Power will be reduced by
-Rs. 3200 crore in FY22.

Reliance Infrastructure and other promoters’ stake in Reliance Power will increase to 25% after issuance of shares and further increase to over 38% upon conversion of warrants, benefiting – 8 lakh shareholders of Reliance Infrastructure.

The Board also approved the request for enabling authorizations from members for the issuance of

(i) bonds convertible into foreign currencies; and

(ii) placement of securities through qualified institutions.

APPROVED

The Board approved seeking the approval of the members of the Society for the above through a mail-in ballot.

STRONG POINTS

– THE BOARD OF DIRECTORS OF RELIANCE POWER LIMITED APPROVES THE PREFERENTIAL ISSUE OF SHARES AND BONDS TO RELIANCE INFRASTRUCTURE LIMITED, THE PROMOTING COMPANY LISTED

-PREFERENTIAL PROBLEM TO BE AT RS. 10 PER SHARE, ACCORDING TO SEBI REGULATIONS (ICDR), PER CONVERSION OF AUTONOMOUS DEBT FROM RELIANCE POWER AGGREGATION UNTIL RS. 1325 CRORE

– PREFERENTIAL CHALLENGE TO BE HUGE CREATOR OF VALUE FOR – 8 LAKH SHAREHOLDERS OF RELIANCE INFRASTRUCTURE

– RELIANCE POWER CONSOLIDATED DEBT TO BE REDUCED FURTHER BY RS. 3200 CRORE IN FY22; THAT WILL IMPROVE THE DEBT RATIO TO -1.80: 1; DESIGNED TO BE AMONG THE LOWEST IN THE INDUSTRY

– THE INFRASTRUCTURE OF RELIANCE AND OTHER PROMOTERS WILL INCREASE UP TO 25% AFTER THE ISSUE OF SHARES TO INCREASE MORE THAN 38% AFTER THE CONVERSION OF THE SUBSCRIPTIONS

RELIANCE POWER FULL STATEMENT: Results of the Board of Directors meeting

“Further to our letter dated June 9, 2021 and in accordance with Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing and Disclosure Obligations
Requirements) Regulations 2015, we inform you that the Board of Directors, during its meeting held today, that is Sunday June 13, 2021, approved, among other things,

(a) Issue of participating shares and / or warrants convertible into participating shares through a preferential grant to Reliance Infrastructure Limited;

(b) Request authorizations from members for the issue (i) of bonds convertible into foreign currencies; and (ii) securities through placement of qualified institutions.

The Board also approved the postal voting notice to be sent to members seeking approval for the above matters, if applicable.

The above must comply with applicable rules, regulations, guidelines and laws, including the Securities and Exchange Board of India (capital matter and disclosure requirements)
Regulations, 2018, and will be subject to all authorizations, sanctions and approvals that may be required under applicable laws.

The disclosure required, in accordance with paragraph A of Annex Ill of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements),
2015, is attached as Annex “A”.

The meeting of the Board of Directors of the Company started at 4:00 p.m. and ended at 5:30 p.m. “


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