Reliance Power Limited has issued a postal ballot notice to its shareholders, seeking approval for three significant resolutions that could shape the company's future direction and leadership.

Key Resolutions

1. Appointment of Non-Executive Non-Independent Director: The company proposes to appoint Shri Arup Ashok Gupta (DIN: 07406556) as a Non-Executive Non-Independent Director.

2. Appointment of Independent Director: Ms. Zohra Chatterji (DIN: 01382511) is proposed to be appointed as an Independent Director for a term of five consecutive years.

3. Issuance of Foreign Currency Convertible Bonds (FCCBs): The company is seeking authorization to issue FCCBs or other similar securities up to $600 million.

Voting Details

Director Appointments

Shri Arup Ashok Gupta

• Proposed as Non-Executive Non-Independent Director
• Over 40 years of experience in human resources across diverse industries
• Known for strategic acumen and aligning HR policies with business goals

Ms. Zohra Chatterji

• Proposed as Independent Director for a five-year term
• Retired IAS officer of the 1979 batch (Uttar Pradesh Cadre)
• Former Secretary, Ministry of Textiles, Government of India
• Extensive experience in key leadership positions in both Central and State Governments

FCCB Issuance

The company plans to raise up to $600 million through the issuance of Foreign Currency Convertible Bonds (FCCBs) or other similar securities. This move aims to:

• Augment long-term resources
• Enhance networth
• Ensure long-term viability and growth
• Expand presence in the renewable energy sector
• Meet long-term working capital requirements
• Fund general corporate purposes

The funds raised will be utilized for the company's expansion plans, particularly in the renewable energy sector, and for its subsidiaries and associates.

Company Background

Reliance Power Limited is a leading private sector power generation and coal resources company in India. With an operating portfolio of 5,305 megawatts, the company has one of the largest portfolios of power projects in the private sector, based on coal, gas, and renewable energy.

Shareholders are encouraged to participate in the voting process, which will be conducted through both postal ballot and e-voting methods. The outcome of this postal ballot could significantly influence the company's strategic direction and governance structure in the coming years.

Reliance Group, a prominent Indian business conglomerate, has announced its first-ever Employee Stock Ownership Plan (ESOP) for Reliance Infrastructure Limited and Reliance Power . This initiative, which received shareholder approval on November 3, 2024, aims to benefit nearly 2,500 employees across both companies.

Key Highlights of the ESOP Program

• Broad Coverage: The program extends to approximately 2,500 employees across Reliance Infrastructure and Reliance Power.
• Favorable Exercise Price: Most employees can exercise their options at the face value of ₹10 per share.
• Recognition of Loyalty: The ESOP grant acknowledges employees' contributions to the Group's turnaround journey.
• Wealth Creation Opportunity: The initiative aims to create wealth-sharing opportunities for employees.
• Alignment with Company Vision: The program is designed to align employee interests with the long-term vision of the company.

Impact and Significance

This ESOP initiative marks a significant step for Reliance Group in fostering a culture of ownership and sustainable value creation. By offering stock options at face value to most employees, the Group demonstrates its commitment to recognizing and rewarding the loyalty and contributions of its workforce.

Reliance Group at a Glance

Company Profiles

Reliance Infrastructure Limited

• Focuses on high-growth sectors including Power, Roads, Metro Rail, and Defence
• Provides Engineering and Construction (E&C) services for power, infrastructure, metro, and road projects

Reliance Power Limited

• Total installed capacity: 5,305 MW
• Operates the 4,000 MW Sasan Ultra Mega Power Project in Madhya Pradesh, the world's largest integrated thermal power plant

Both flagship companies are reported to be entirely bank debt-free, underlining the Group's financial stability.

The introduction of this ESOP program aligns with Reliance Group's vision of being 'Resilient, Renewed, and Resurgent in Growth.' It not only recognizes past performance but also aims to inspire continued excellence by creating a sense of ownership among employees.

As Reliance Group continues to focus on generating long-term value for its diverse shareholder base, this ESOP initiative stands as a testament to its commitment to employee empowerment and inclusive growth in its journey forward.