Reliance Power on Tuesday said its 10.19 crore pledged shares having a total face value of Rs 101.9 crore have been invoked by Reliance Infrastructure on December 2, 2019. The total market value of these 10.19 crore shares at Rs 3.30 per share on the BSE works out to be Rs 33.62 crore.
Reliance Infrastructure, which is another Group firm had encumbered shares in favour of Axis Bank, Reliance Power said in a BSE filing.
After the invocation of these 10.19 crore share, which constitute 3.63 per cent of share capital, Reliance Infrastructure's holding has come down to 22.34 per cent.
Before invocation of these shares, Reliance Infrastructure was holding 25.97 per cent of share capital in Reliance Power.