Reliance Power's board is set to meet on Monday to consider raising of long-term funds from domestic and/or global markets through multiple routes.

Reliance Power's obligations as a guarantor on behalf of Vidarbha Industries Power have been fully settled, resulting in the release of all obligations related to the debt of Rs 3,872.04 crore.

Shares of Reliance Power Ltd surged by 5 percent on Wednesday (Sept. 18) after the company announced that it had fully settled its Rs 3,872 crore obligation as a guarantor for Vidarbha Industries Power (VIPL),

Reliance Power has settled Rs 3,872 crore guarantor obligations for its subsidiary Vidarbha Industries Power, the firm said in a stock exchange filing. Reliance Power Ltd said, “The entire obligations of the company as a guarantor on behalf of Vidarbha Industries Power Ltd (VIPL) stands fully settled resulting in release and discharge of corporate guarantee,

Reliance Power has settled Rs 3,872 crore guarantor obligations for its subsidiary Vidarbha Industries Power, ending all disputes with CFM Asset Reconstruction Private Limited.

Reliance Power shares climbed 5 per cent to hit its upper circuit limit at Rs 32.98 on BSE. The stock hit a 52-week high of Rs 38.07 on August 23. The stock is up 37.70 per cent in 2024 so far and 73 per cent in the past one year.