Reliance Power Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. The report, prepared by Infomerics Valuation and Rating Limited, confirms that the utilization of proceeds from the preferential issue of warrants is in line with the stated objects. While the company received lower aggregate proceeds than initially contemplated due to unexercised warrants, the funds received have been fully utilized, and no deviation has been observed.
Reliance Power Submits Monitoring Agency Report
Reliance Power Limited has officially released its Monitoring Agency Report, covering the financial quarter that concluded on June 30, 2026. This report, prepared by Infomerics Valuation and Rating Limited, details the utilization of funds raised through a preferential issue of convertible warrants, amounting to Rs. 1,524.60 crore.
Utilization of Funds Confirmed
The report indicates that there has been no deviation in the utilization of funds received. However, it notes that the company received lower aggregate proceeds than originally contemplated due to the lapse of warrants that were not exercised within the prescribed period. The Monitoring Agency has verified that the gross proceeds have been utilized in accordance with the objects of the issue.
Quarterly Financials and Warrants
During the quarter ended June 30, 2026, a total of 34,32,00,000 outstanding warrants issued by the Company lapsed on account of non-conversion. Consequently, an amount of Rs 302.62 Crore received against these warrants has been forfeited. The report also clarifies that the preferential issue size aggregated to Rs 1,524.60 crore, with only Rs 694.65 crore ultimately received by the Company.
Investment Allocation Breakdown
The utilized proceeds were allocated to three primary objectives:
- Expansion of Business Operations: Rs. 803.60 crore allocated, with Rs. 169.66 crore utilized as of June 30, 2026.
- General Corporate Purpose: Rs. 381.00 crore allocated.
- Debt Reduction: Rs. 340.00 crore allocated.
The report also confirms that no unutilized proceeds remained as of June 30, 2026, making the monitoring of implementation timelines for unutilized funds not applicable. The company has fully utilized the proceeds received under the preferential issue.
Source: BSE
