Reliance Power disclosed its half-yearly statement of debt securities as on September 30, 2026. The filing confirms ₹250 crore in outstanding non-convertible debentures with an 8.00% coupon rate.

The company submitted the document to BSE and NSE on October 13, 2026, in compliance with SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025. The disclosure covers plain vanilla debt securities issued by the power generation major.

Debt instrument details

The statement lists a single tranche of non-convertible debentures issued in July 2017. The instrument matures in June 2035, with interest payable at the end of the tenure rather than periodically.

Compliance and filings

The half-yearly statement was signed by Ramandeep Kaur, Company Secretary, and filed with both stock exchanges and depositories including NSDL and CDSL. The disclosure ensures transparency regarding the company's long-term debt obligations and their current status as of the reporting date.

Reliance Power Limited disclosed that the Enforcement Directorate (ED) has seized shares of its wholly owned subsidiary, Sasan Power Limited, valued at ₹2,026.65 crore, along with bank balances of ₹6.16 crore. The seizure order, dated October 12, 2026, was issued under Section 37A(1) of the Foreign Exchange Management Act (FEMA).

The regulatory action stems from an investigation into foreign currency convertible bonds (FCCBs) issued by the company in 2006 and a subsequent overseas investment made in 2008 in a Singapore subsidiary. The company stated that these transactions were executed with all applicable approvals at the time.

Nature of the Seizure and Allegations

The ED’s Order of Seizure No.AD/HIU-2(4)(3)/2026/37(A)/01 cites an alleged contravention of Section 4 of the Foreign Exchange Management Act, 1999. The company has disputed these allegations and indicated it will take appropriate legal steps to safeguard the interests of shareholders and stakeholders.

Status of Pledged Assets

A critical aspect of the disclosure is that the seized shares of Sasan Power Limited are already pledged in favour of Power Finance Corporation Limited, a Government of India undertaking. This security arrangement has been in place for more than 10 years. The seizure imposes a restraint on the transfer, sale, pledge, encumbrance, or other dealing with these assets, although no penalty has been imposed at this stage.

What the Numbers Show

The financial exposure highlighted in this filing reveals a significant divergence between the nominal value of the seized equity and the company's immediate liquidity impact. The shareholding value of ₹2,026.65 crore vastly exceeds the bank balance seizure of ₹6.16 crore. However, since the shares are already pledged to a government undertaking for over a decade, the practical encumbrance on the asset may have existed prior to this specific ED order. The seizure primarily restricts any potential restructuring or disposal of these assets, which were originally linked to overseas investments made nearly two decades ago.

Company Response

Reliance Power stated that the seizure is provisional and subject to confirmation by the Competent Authority under Section 37A of the Act. The company is currently assessing the implications of the order. In its formal communication to stock exchanges, the company affirmed that the information provided was true and correct to the best of its knowledge.