📷 Image Credits: DNA India
Anil Ambani, the younger brother of India’s richest man Mukesh Ambani with a net worth of Rs 954,203 crore, is scripting a massive comeback with Reliance Power. Shares of Anil Ambani owned Reliance Power touched the upper circuit on June 11, closing at 28.67 apiece on BSE after nearing 52-week high levels. This surge came after Reliance Power became a debt-free company on a standalone basis, having cleared its outstanding debt of around Rs 800 crore with various banks.
Following a history of remarkable highs and lows, Reliance Power, once trading at Rs 260.78 in 2008, had plummeted to Rs 1.13 on March 27, 2020. However, with a slow and steady recovery over the years, Anil Ambani’s company has once again garnered the attention of traders and investors.
Currently, Reliance Power boasts an equity base of Rs 4,016 crore with participation from over 38 lakh retail investors. The company operates at a capacity of 5,900 MW, including the Sasan UMPP and Rosa Thermal Power Plant. Anil Ambani’s strategic moves have not only restored the company’s financial strength but also reinstated confidence in the market regarding Reliance Power’s growth prospects.
