RPower promoters get Rs 1,500 cr via stake sale

Reliance Power promoters today sold 5.42 per cent stake in the company about Rs 1,500 crore as their offer for sale was oversubscribed nearly 1.6 times.

The sale would help the company meet Sebi norms for a minimum 25 per cent public float. "Reliance Infrastructure Ltd and other promoter group companies today announced completion of an offer for sale of 5.42 per cent of the share capital of Reliance Power Ltd (RPL)," the company said in a statement.

The offer for sale received bids worth approximately Rs 2,300 crore.

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