Reliance Power is the key stock to watch out for today, as the company announced financing from Maharashtra Power Finance Corporation Limited (PFC) on Friday.

The company announced that its subsidiary, Rosa Power Supply Company Limited, has secured a substantial Rs 3,760 crore rupee term loan facility. The definitive agreement for the loan was signed on December 27, 2024, with Power Finance Corporation Limited (PFC).

‘we wish to inform that the subsidiary of the Company, namely, Rosa Power Supply Company Limited, has executed the definitive documents on December 27, 2024 to avail the rupee term loan facility to the extent of Rs 3,760 crore in one or more tranches, from Power Finance Corporation Limited (PFC),’ as mentioned in the exchange filing by the company. 

The proceeds will be deployed for general corporate purposes, including future investments in renewable energy and capex for flue gas desulfurization at the Rosa Power plant.

‘The proceeds of the loan shall be utilized for general corporate purposes including future investment of the Group in renewable energy projects and flue gas desulfurization capex of Rosa,’ as mentioned in the exchange filing.

In early November, Reliance Power announced that its subsidiary, Rosa Power, has become a zero-debt company following the prepayment of a Rs 485 crore loan to Singapore-based Varde Partners. This prepayment, totaling Rs 1,318 crore, has successfully cleared all of Rosa Power’s financial obligations, making it a debt-free entity. Additionally, Reliance Power has achieved a significant milestone by eliminating all debt from banks and financial institutions. As of June 30, 2024, the company’s consolidated net worth stands at Rs 11,155 crore, according to regulatory filings.

Reliance Power Share Price Today
The stock opened today at 43.00, which is the almost same as its closing price on Friday. In early trading, it has risen by 0.83%. The stock has a 52-week high of 54.25 and a 52-week low of 19.37.

Reliance Power Share Price History 
Looking at its performance over the years, the stock has declined by 28.88% over the past 10 years, but it has seen impressive gains of 1151.29% over the last 5 years, 233.36% over the past 3 years, and 87.67% in the last 1 year. In the short term, it has gained 50.95% in the last 6 months, 12.67% over the past month, and declined by 0.23% in the last week.