Anil Ambani recently signed a massive deal of Rs 132 crore with JSW Renewable Energy. Reliance Power is selling a 45 MW wind power project in Maharashtra to JSW Renewable Energy for Rs 1320000000.
Anil Ambani is on the rise again as the bullish rally of Reliance Power continues. In the past few days, Anil Ambani’s Reliance settled debt of three major banks and now, two subsidiaries of Reliance Power - Kalai Power Pvt Ltd and Reliance Cleangen Ltd, have settled a massive debt of Rs 1023 crore. As disclosed in a stock exchange filing, the subsidiaries have signed a debt settlement and discharge agreement with Reliance Commercial Finance Ltd (RCFL). The total outstanding debt that has been settled stood at Rs 10230000000. For those who are unaware, Reliance Commercial Finance was acquired by Authum Investment and Infrastructure Limited for just Rs 1 crore.
Over the past few weeks, Anil Ambani’s Reliance Power has settled the debts owed to ICICI Bank, Axis Bank, and DBS Bank. Anil Ambani is also now reportedly planning to head towards Rs 2100 crore debt settlement with JC Flowers Asset Reconstruction Company.
Anil Ambani is the younger brother of India’s richest man Mukesh Ambani. Anil was once the sixth richest man in the world with a net worth of over Rs 1.83 lakh crore, however he declared bankruptcy before a UK court in February 2020. The young Ambani is making a strong comeback as shares of his firm Reliance Power have jumped over 120% in the past year.
He also recently signed a massive deal of Rs 132 crore with JSW Renewable Energy. Reliance Power is selling a 45 MW wind power project in Maharashtra to JSW Renewable Energy for Rs 1320000000.
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 "Anil Ambani")
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