Yes Bank has acquired around 30 per cent in a wholly-owned subsidiary of Reliance Power pursuant to invocation of pledged shares. Equity share of Yes Bank has acquired 12,73,21,500 having a nominal value of Rs 10 each constituting around 29.97 per cent of the post issue paid-up share capital of Rose Supply Company Ltd (RPSCL), a wholly-owned subsidiary of Reliance Power Ltd, the bank said. Shares have been acquired pursuant to invocation of the pledge of shares to RPSCL subsequent to default and breach of terms of credit facilities sanctioned by YES Bank to Reliance Power Ltd,’ also added.
On September 1, 1994 incorporated RPSCL is engaged in the business of power generation. The Rosa Thermal plant (1,200 MW) at Shahjahanpur in Uttar Pradesh, owned by the RPSCL generated 4,341 million units for March 31, 2019.