Days after making a loan investment, US investment firm Värde Partners would invest Rs 933 crore (about $117 million) in industrialist Anil Ambani group’s indebted Reliance Power Ltd., picking up around 15 per cent equity share (RPL).

According to a regulatory statement, the RPL board on Thursday authorized the issuance of up to Rs 60 crore equity shares and warrants convertible into equity shares to VFSI Holdings Pte. Limited, an entity of Varde Partners, at an Issue Price of $15.55 per share and warrant.

The two businesses recently struck an agreement under which RPL would obtain loans from the US private equity investor for up to Rs 1,200 crore ($150 million).

Reliance Infrastructure, owned by the Anil Ambani group, received a Rs 550 crore investment from Värde Partners in June last year.
After market hours, RPL’s equity was traded. RPL’s shares, traded on the Mumbai stock exchanges, concluded Thursday’s trading session lower overall by 1.62 per cent, closing at 21.30 per share on the BSE.