Reliance Energy's net worth rises to Rs 6,954 crore on conversion

Mumbai, Mar 31 (UNI) Reliance Energy Ltd's net worth has increased to about Rs 6,954 crore after the conversion of warrants into equity shares at a price of Rs 573 each.

Informing the BSE, Reliance Energy said that the Committee of Directors of the Company at its meeting today allotted 1,04,16,000 equity shares of Rs 10 each for cash at a price of Rs 573 (including a premium of Rs 563) per share to the promoters, against outstanding warrants issued on August 2, 2005.

These shares will be subject to lock-in upto August one this year. With the allotment, the paid-up capital of Reliance Energy stands increased to 21,23,20,251 fully paid up equity shares of Rs 10 each.

UNI SN KD SKB1747