Reliance Power to raise Rs76,473 crore

Mumbai: Anil Ambani group company Reliance Power Ltd plans to borrow Rs76,472.80 crore to fund 12 projects - including the 3,960-MW Sasan ultra mega power project - for generating 24,200 MW of electricity.

The company has already asked three banks to arrange $6 billion (Rs24,000 crore) of secured syndicated loan, Reliance Power said in its draft prospectus filed with market regulator Sebi.

Macquarie India Advisory Services, ABN Amro Bank and Deutsche Bank have been mandated to arrange syndicated loans of $2 billion each.

The proposed loan would be in addition to about Rs12,000 crore, which the company expects to raise through an initial public offer (IPO).