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Reliance Power Limited ( (IN:RPOWER) ) has issued an announcement.
Reliance Power has disclosed that the Export Import Bank of the United States has initiated a corporate insolvency resolution process by filing an application under India’s insolvency law, citing a debt default of about US$165.41 million by subsidiary Samalkot Power Limited, which is backed by a corporate guarantee from the parent. The company notes that the dispute over the debt’s validity is already before the London Court of International Arbitration and maintains that the new insolvency filing is not legally sustainable, indicating it will contest the move and seek to protect its interests, a stance that could shape outcomes for its creditors and investors depending on how parallel proceedings unfold.
More about Reliance Power Limited
Reliance Power Limited is an Indian power generation company engaged in developing, operating and owning thermal and other power projects. The company focuses on large-scale electricity generation assets across India, supplying power to utilities and industrial consumers in a highly regulated and capital-intensive sector.
Average Trading Volume: 7,042,749
Technical Sentiment Signal: Sell
Current Market Cap: 121.7B INR
For a thorough assessment of RPOWER stock, go to TipRanks’ Stock Analysis page.