Reliance Power logo

Reliance Power CEO, MD, chairman, board of directors and AGM

NSE: RPOWERBSE: 532939PowerSmall Cap

Last close ₹16.43down ₹0.62 (3.64%)BSE ₹16.45

Share price at the NSE close on 23 Oct 2026. Previous close ₹17.05.

52-week range of traded prices to 23 Oct 2026
₹15.98Low, 23 Oct 2026₹47.75High, 30 Oct 2025
Market cap
₹6,795 Cr520th largest listed
P/E
Lossover the last 12 months
P/B
0.4
Dividend yield
Nonein the last 12 months
ROE
−2.0%
ROE without one-offs
0.4%
ROCE
5.0%
Debt to equity
0.92
Volume, NSE
4,09,80,54530.1% delivered

Reliance Power board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and chief executiveNEERAJ PARAKH
  • Company Secretary and Compliance OfficerSmt. Ramandeep Kaur

7 directors4 independent1 executive2 non-executive

  • VIJAY KUMAR SHARMAIndependent · joined Sep 2020 · reappointed Sep 2025 · 69 months as independent · 4 listed boards · 4 as independent · 4 committee seats, 2 as chair
  • ASHOK RAMASWAMYIndependent · joined Apr 2022 · reappointed Apr 2022 · 50 months as independent · 1 listed board · 1 as independent · 3 committee seats
  • SACHIN MOHAPATRANon-executive · joined Nov 2024 · reappointed Nov 2024 · 1 listed board
  • NEERAJ PARAKH · Chairperson and chief executiveExecutive · joined Jan 2025 · reappointed Jan 2025 · 1 listed board
  • ARUP ASHOK GUPTANon-executive · joined Oct 2025 · reappointed Oct 2025 · 1 listed board
  • ZOHRA CHATTERJIIndependent · joined Oct 2025 · reappointed Oct 2025 · 8 months as independent · 1 listed board · 1 as independent · 8 committee seats
  • AVINASH GUPTAIndependent · joined May 2026 · reappointed May 2026 · 1 month as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

9 directors who left
  • VIJAYALAKSHMY GUPTA, left 3 Nov 2025: Others
  • ASHOK KUMAR PAL, left 11 Oct 2025: Others
  • HARMANJIT SINGH NAGI, left 29 Aug 2025: Others
  • THOMAS MATHEW, left 29 Aug 2025: Others
  • SATEESH SETH, left 15 Nov 2024: Others
  • PUNIT NARENDRA GARG, left 15 Nov 2024: Others
  • CHHAYA VIRANI, left 15 Nov 2024: Others
  • MANJARI KACKER, left 15 Nov 2024: Others
  • KROTTHAPALLI RAJA GOPAL, left 15 Nov 2024: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 21 May 20266 of 6 present3 independent · 75 days in between
    • 6 Mar 20266 of 6 present3 independent · 22 days in between
    • 11 Feb 20266 of 6 present3 independent · 11 days in between
    • 30 Jan 20266 of 6 present3 independent · 15 days in between
    1 earlier meeting
    • 14 Jan 20266 of 6 present3 independent

  • Audit Committee

    Chair AVINASH GUPTA

    ASHOK RAMASWAMY, VIJAY KUMAR SHARMA, ZOHRA CHATTERJI

    • 21 May 20263 of 3 present3 independent · 75 days in between
    • 6 Mar 20263 of 3 present3 independent · 22 days in between
    • 11 Feb 20263 of 3 present3 independent · 11 days in between
    • 30 Jan 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair VIJAY KUMAR SHARMA

    ASHOK RAMASWAMY, ZOHRA CHATTERJI, AVINASH GUPTA

    • 21 May 20263 of 3 present3 independent · 110 days in between
    • 30 Jan 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair VIJAY KUMAR SHARMA

    ASHOK RAMASWAMY, ZOHRA CHATTERJI, AVINASH GUPTA

    • 21 May 20263 of 3 present3 independent · 110 days in between
    • 30 Jan 20263 of 3 present3 independent

  • Risk Management Committee

    Chair ASHOK RAMASWAMY

    VIJAY KUMAR SHARMA, NEERAJ PARAKH, ZOHRA CHATTERJI, AVINASH GUPTA

    • 21 May 20264 of 4 present3 independent · 110 days in between
    • 30 Jan 20264 of 4 present3 independent

  • Corporate Social Responsibility Committee

    Chair ASHOK RAMASWAMY

    VIJAY KUMAR SHARMA, ZOHRA CHATTERJI, AVINASH GUPTA

    • 21 May 20263 of 3 present3 independent · 110 days in between
    • 30 Jan 20263 of 3 present3 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Pathak H. D. & Associates LLPPeer-review certificate valid to Jan 2029

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Reliance Power AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Reliance Power dividend history

Annual general meeting, 14 Aug 2026

44,26,681 shareholders on the register on 7 Aug 2026; present: 3 promoters and 174 others; votes counted by Anil Lohia / Dayal and Lohia, Chartered Accountants.The company's voting result (opens in a new tab)

  1. To consider and adopt: a) the audited financial statement of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon, and b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of the Auditors thereon.MoreLess
    Ordinary
    80.15% for19.85% against

    Against: promoters 0.00% · institutions 56.20% · other public 0.56%

    Turnout: all 40.33% · promoters 99.91% · institutions 78.21% · other public 2.00%

  2. To appoint a Director in place of Shri Sachin Mohapatra (DIN: 07791421), who retires by rotation under the provisions of the Companies Act, 2013 and being eligible, offers himself for re-appointment.
    Ordinary
    99.19% for0.81% against

    Against: promoters 0.00% · institutions 2.02% · other public 1.24%

    Turnout: all 42.41% · promoters 99.91% · institutions 89.65% · other public 1.99%

  3. Appointment of Statutory Auditors and fix their remuneration.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.52%

    Turnout: all 42.41% · promoters 99.91% · institutions 89.65% · other public 2.00%

  4. Remuneration to Cost Auditors.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.54%

    Turnout: all 42.41% · promoters 99.91% · institutions 89.65% · other public 2.00%

  5. Appointment of Dr. Avinash Gupta (DIN: 02784546) as an Independent Director.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.85%

    Turnout: all 42.41% · promoters 99.91% · institutions 89.65% · other public 2.00%

  6. Issue of securities through Qualified Institutions Placement.
    Special
    82.02% for17.98% against

    Against: promoters 0.00% · institutions 46.70% · other public 0.63%

    Turnout: all 42.41% · promoters 99.91% · institutions 89.65% · other public 2.00%

  7. Issue of Non-Convertible Debentures.
    Special
    91.64% for8.36% against

    Against: promoters 0.00% · institutions 21.72% · other public 0.34%

    Turnout: all 42.41% · promoters 99.91% · institutions 89.65% · other public 2.00%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 18 Dec 2025, 3 resolutions

44,71,718 shareholders on the register on 14 Nov 2025; votes counted by Anil Lohia / Dayal and Lohia, Chartered Accountants.The company's voting result (opens in a new tab)

  1. Appointment of Shri Arup Ashok Gupta (DIN: 07406556) as a Non-Executive Non-Independent Director
    Ordinary
    97.86% for2.14% against

    Against: promoters 0.00% · institutions 5.99% · other public 0.36%

    Turnout: all 44.08% · promoters 99.91% · institutions 91.29% · other public 6.15%

  2. Appointment of Ms. Zohra Chatterji (DIN: 01382511) as an Independent Director
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.36%

    Turnout: all 44.07% · promoters 99.91% · institutions 91.29% · other public 6.15%

  3. Issuance of Foreign Currency Convertible Bonds / other securities
    Special
    99.02% for0.98% against

    Against: promoters 0.00% · institutions 2.68% · other public 0.43%

    Turnout: all 44.07% · promoters 99.91% · institutions 91.29% · other public 6.15%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 8 Aug 2025, 8 resolutions

44,92,431 shareholders on the register on 1 Aug 2025; present: 7 promoters and 162 others; votes counted by Anil Lohia / Dayal and Lohia, Chartered Accountants.The company's voting result (opens in a new tab)

  1. To consider and adopt: a) the audited financial statement of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon, and b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2025 and the report of the Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 43.25% · promoters 99.91% · institutions 90.75% · other public 5.18%

  2. To appoint a Director in place of Shri Ashok Kumar Pal (DIN: 08313292), who retires by rotation under the provisions of the Companies Act, 2013 and being eligible, offers himself for re-appointment
    Ordinary
    99.32% for0.68% against

    Against: promoters 0.00% · institutions 1.90% · other public 0.10%

    Turnout: all 43.32% · promoters 99.91% · institutions 91.16% · other public 5.18%

  3. To appoint a Director in place of Shri Harmanjit Singh Nagi (DIN: 07490762), who retires by rotation under the provisions of the Companies Act, 2013 and being eligible, offers himself for re-appointment.MoreLess
    Ordinary
    97.75% for2.25% against

    Against: promoters 0.00% · institutions 6.25% · other public 0.44%

    Turnout: all 43.32% · promoters 99.91% · institutions 91.16% · other public 5.18%

  4. Remuneration to Cost Auditors
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 43.32% · promoters 99.91% · institutions 91.16% · other public 5.18%

  5. Re-appointment of Shri Vijay Kumar Sharma (DIN: 02449088) as an Independent Director
    Special
    99.10% for0.90% against

    Against: promoters 0.00% · institutions 2.52% · other public 0.12%

    Turnout: all 43.32% · promoters 99.91% · institutions 91.16% · other public 5.18%

  6. Appointment of Secretarial Auditors
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.09%

    Turnout: all 43.32% · promoters 99.91% · institutions 91.15% · other public 5.18%

  7. Issue of securities through qualified institutions placement
    Special
    98.46% for1.54% against

    Against: promoters 0.00% · institutions 4.29% · other public 0.25%

    Turnout: all 43.32% · promoters 99.91% · institutions 91.16% · other public 5.18%

  8. Issue of Non-Convertible Debentures
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 43.32% · promoters 99.91% · institutions 91.16% · other public 5.18%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 23 Mar 2025, 3 resolutions

42,98,371 shareholders on the register on 14 Feb 2025; votes counted by Anil Lohia / Dayal and Lohia, Chartered Accountants.The company's voting result (opens in a new tab)

  1. Appointment of Dr. Thomas Mathew (DIN: 05203948) as an Independent Director
    Special
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.44% · other public 0.52%

    Turnout: all 39.93% · promoters 99.90% · institutions 89.90% · other public 4.21%

  2. Appointment of Shri Neeraj Parakh (DIN: 07002249) as an Executive Director
    Special
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 0.93% · other public 0.42%

    Turnout: all 37.37% · promoters 99.90% · institutions 73.62% · other public 4.21%

  3. Alteration of the Articles of Association of the Company
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.50%

    Turnout: all 39.93% · promoters 99.90% · institutions 89.90% · other public 4.21%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 10 Feb 2025, 4 resolutions

42,88,213 shareholders on the register on 3 Jan 2025; votes counted by Anil Lohia / Dayal and Lohia, Chartered Accountants.The company's voting result (opens in a new tab)

  1. Appointment of Dr. Vijayalakshmy Gupta (DIN: 08636754) as an Independent Director
    Special
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.43% · other public 0.23%

    Turnout: all 40.51% · promoters 99.90% · institutions 91.57% · other public 4.59%

  2. Appointment of Shri Harmanjit Singh Nagi (DIN: 07490762) as a Non-Executive Non-Independent Director
    Ordinary
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 0.57% · other public 0.25%

    Turnout: all 37.96% · promoters 99.90% · institutions 75.40% · other public 4.59%

  3. Appointment of Shri Sachin Mohapatra (DIN: 07791421) as a Non-Executive Non-Independent Director
    Ordinary
    99.82% for0.19% against

    Against: promoters 0.00% · institutions 0.47% · other public 0.23%

    Turnout: all 40.51% · promoters 99.90% · institutions 91.57% · other public 4.59%

  4. Appointment of Shri Ashok Kumar Pal (DIN: 08313292) as an Executive Director
    Ordinary
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 0.60% · other public 0.24%

    Turnout: all 40.51% · promoters 99.90% · institutions 91.57% · other public 4.60%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 3 Nov 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. Introduction and Implementation of ‘Reliance Power Employee Stock Option Scheme 2024’
    Special
    77.97% for22.03% against

    Against: promoters 0.00% · institutions 61.56% · other public 3.48%

    Turnout: all 40.72% · promoters 100.00% · institutions 89.88% · other public 5.04%

  2. Extension of ‘Reliance Power Employee Stock Option Scheme 2024’ to the employees of group companies including its subsidiaries, associates and holding company
    Special
    77.94% for22.06% against

    Against: promoters 0.00% · institutions 61.56% · other public 3.93%

    Turnout: all 40.72% · promoters 100.00% · institutions 89.88% · other public 5.04%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 23 Oct 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. Issue of Securities on Preferential Basis
    Special
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 1.02% · other public 1.72%

    Turnout: all 41.14% · promoters 100.00% · institutions 91.07% · other public 5.58%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 3 Aug 2024, 5 resolutions

Present: 7 promoters and 170 others.The company's voting result (opens in a new tab)

  1. To consider and adopt:na)tthe audited financial statement of the Company for the financial year ended March 31, 2024 and the reports of the Board of Directors and Auditors thereon, andnnb)t the audited consolidated financial statement of the Company for the financial year ended March 31, 2024 and the report of the Auditors thereonMoreLess
    Ordinary
    82.96% for17.04% against

    Against: promoters 0.00% · institutions 54.93% · other public 0.34%

    Turnout: all 37.43% · promoters 100.00% · institutions 74.24% · other public 4.25%

  2. To appoint a Director in place of Shri Sateesh Seth (DIN:00004631), who retires by rotation under the provisions of the Companies Act, 2013 and being eligible, offers himself for re-appointment
    Ordinary
    84.29% for15.71% against

    Against: promoters 0.00% · institutions 44.21% · other public 0.78%

    Turnout: all 40.00% · promoters 100.00% · institutions 90.74% · other public 4.25%

  3. Remuneration to Cost Auditors
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.67%

    Turnout: all 40.00% · promoters 100.00% · institutions 90.74% · other public 4.25%

  4. Issuance of Foreign Currency Convertible Bonds and/or any other similar securitiesn
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.77%

    Turnout: all 37.45% · promoters 100.00% · institutions 74.37% · other public 4.25%

  5. Issue of securities through qualified institutions placement on a private placement basis to the qualified institutional buyers
    Special
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 0.49% · other public 0.75%

    Turnout: all 37.45% · promoters 100.00% · institutions 74.37% · other public 4.25%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 14 Aug 2026, 8 fund houses so far (houses' deadline to file 15 Oct 2026)

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To consider and adopt: a) the audited financial statement of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon, and b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of the Auditors thereon.MoreLess
    Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance Concern: The Statutory Auditors have given qualified opinion in their Report on Consolidated financial statements, which includes observation on material uncertainty related to going concern of 3 subsidiaries. However, the Company has not adequately addressed the said concerns.
    • DSP Mutual Fund, Jio BlackRock Mutual FundWe have relied upon the auditors’ report, which contains a qualified opinion on the consolidated financial statements due to the auditors' inability to obtain sufficient appropriate audit evidence regarding the going concern assessment of certain subsidiaries, impairment of assets, and recoverability of receivables. The qualification primarily relates to Rajasthan Sun Technique Energy Pvt. Ltd. (RSTEPL) and Samalkot Power Ltd. (SMPL). RSTEPL reported a net loss of Rs. 7.3 bn, negative net worth of Rs. 26.1 bn, a working capital deficit of Rs. 23.4 bn and borrowing defaults of Rs. 21.1 bn, while SMPL reported a net loss of Rs. 0.9 bn, negative net worth of Rs. 28.3 bn, a working capital deficit of Rs. 45.4 bn and borrowing defaults of Rs. 18.2 bn. Further, a lender invoked the company's corporate guarantee issued on behalf of SMPL and initiated insolvency proceedings. The auditors were also unable to conclude on the impairment assessment of Property, Plant and Equipment of Rs. 3.3 bn held by Dhursar Solar Power Pvt. Ltd. (DSPPL) and the recoverability of receivables of Rs. 2.7 bn from Reliance Infrastructure Ltd., as the company had not carried out an expected credit loss assessment. Consequently, the auditors could not determine whether any adjustment to the carrying value of these assets and receivables was required. The auditors also highlighted a material uncertainty relating to the group's ability to continue as a going concern, although the financial statements have been prepared on a going concern basis based on management's plans to meet obligations through operations and asset monetisation. Separately, under Emphasis of Matter, the auditors drew attention to the ongoing Enforcement Directorate (ED) investigation relating to the alleged fake bank guarantee submitted to Solar Energy Corporation of India (SECI), including the filing of a supplementary prosecution complaint, the arrest of the former Executive Director and CFO, and the provisional attachment of certain company assets for 365 days, as well as the ongoing SEBI forensic audit. As these matters remain under investigation, their financial and legal impact cannot currently be determined. We also note that the auditors have highlighted certain issues with the audit trail. Given the qualified financial statements, we are unable to support the resolution.
    • Edelweiss Mutual Fund, Navi Mutual FundCompliant with Indian Accounting Standards. Governance Concern: The Statutory Auditors have given qualified opinion in their Report on Consolidated financial statements, which includes observation on material uncertainty related to going concern of 3 subsidiaries. However, the Company has not adequately addressed the said concerns.
    • ICICI Prudential Mutual FundGiven the qualified opinion by the auditors, the AMC has voted against the resolution.
    2 for6 against
  • To appoint a Director in place of Shri Sachin Mohapatra (DIN: 07791421), who retires by rotation under the provisions of the Companies Act, 2013 and being eligible, offers himself for re-appointment.
    8 for0 against
  • Appointment of Statutory Auditors and fix their remuneration.
    3 for0 against
  • Remuneration to Cost Auditors.
    8 for0 against
  • Appointment of Dr. Avinash Gupta (DIN: 02784546) as an Independent Director.
    8 for0 against
  • Issue of securities through Qualified Institutions Placement.
    8 for0 against
  • Issue of Non-Convertible Debentures.
    8 for0 against
1 proposal not matched to one resolution
  • Appointment of M/s. Kailash Chand Jain and Co., Chartered Accountants (Firm Registration No. 112318W), as Statutory Auditors of the Company for a term of five consecutive years, to hold office from the conclusion of 32nd Annual General Meeting till the conclusion of the 37th Annual General Meeting of the Company.MoreLess
    5 for0 against

Mutual fund votes, meeting of 18 Dec 2025, 17 fund houses

  • Appointment of Shri Arup Ashok Gupta (DIN: 07406556) as a Non-Executive Non-Independent Director
    Against Aditya Birla Sun Life Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund
    • Aditya Birla Sun Life Mutual Fund, Jio BlackRock Mutual FundArup Ashok Gupta, 62, has over forty years of experience in human resources. He previously held positions at Reliance Infrastructure, Reliance Defence, Diligent Media Corporation Ltd., The Times of India Group, ACC Limited, and Rashtriya Chemicals & Fertilizers Ltd. Public sources suggest that he currently serves as the Chief Human Resources Officer of Reliance Power Limited. Given that he may have a full-time executive position with the company, the company must explain the rationale for appointing him as a non-executive director on the board of Reliance Power. The company must seek shareholders’ approval for his appointment as an Executive Director and remuneration. We do not support the resolution.
    • Angel One Mutual FundTransparency concern: It is unclear whether the proposed Non- Executive director holds any full-time position/ role in the Company, currently.
    • Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed appointee. Transparency concern: It is unclear whether the proposed NonExecutive director holds any full-time position/ role in the Company, currently.
    • HDFC Mutual FundMr. Arup Ashok Gupta, 62, has over forty years of experience in human resources. He previously held positions at Reliance Infrastructure, Reliance Defence, Diligent Media Corporation Ltd., The Times of India Group, ACC Limited, and Rashtriya Chemicals & Fertilizers Ltd. Public sources suggest that he currently serves as the Chief Human Resources Officer of Reliance Power Limited. Given that he may have a full-time executive position with the company, the company must explain the rationale for appointing him as a non-executive director on the board of Reliance Power. The company must seek shareholders’ approval for his appointment as an Executive Director and remuneration. We do not support the resolution.
    • ICICI Prudential Mutual FundDue to absence of clarity on the full-time position/ role of the proposed NED in the Company, the AMC has voted against the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundTransparency concern: It is unclear whether the proposed NonExecutive director holds any full-time position/ role in the Company, currently.
    3 for14 against
  • Appointment of Ms. Zohra Chatterji (DIN: 01382511) as an Independent Director
    17 for0 against
  • Issuance of Foreign Currency Convertible Bonds / other securities
    17 for0 against
4 earlier meetings

Mutual fund votes, meeting of 8 Aug 2025, 16 fund houses

  • To consider and adopt: a) the audited financial statement of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon, and b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2025 and the report of the Auditors thereon.MoreLess
    16 for0 against
  • To appoint a Director in place of Shri Ashok Kumar Pal (DIN: 08313292), who retires by rotation under the provisions of the Companies Act, 2013 and being eligible, offers himself for re-appointment
    16 for0 against
  • To appoint a Director in place of Shri Harmanjit Singh Nagi (DIN: 07490762), who retires by rotation under the provisions of the Companies Act, 2013 and being eligible, offers himself for re-appointment.MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundTransparency concern: The Company has not clarified whether the proposed director holds any executive position in the Company or not currently, as at the time of approval, he was holding the position of President of Corporate Development at Reliance Power Ltd.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Transparency concern: The Company has not clarified whether the proposed director holds any executive position in the Company or not currently, as at the time of approval, he was holding the position of President of Corporate Development at Reliance Power Ltd.
    • HDFC Mutual FundMr. Harmanjit Singh Nagi, 59, is the President of Corporate Development at Reliance Power Limited wherein he leads initiatives in green energy, including large-scale solar and hydroelectric projects. He has over thirty years of experience across the power, energy, and environmental sectors in strategic leadership, project development, and business development. In the February 2025 Postal Ballot, the company had disclosed that Harmanjit Singh Nagi held a full-time executive role with the company as President of Corporate Development. Hence, we believe that there is a lack of clarity on his proposed appointment as a non executive director. Given his full-time employment with the company, shareholders’ approval should be sought for his appointment and remuneration as Executive Director. We do not support his reappointment.
    • ICICI Prudential Mutual FundHarmanjit Singh Nagi is the President of Corporate Development at Reliance Power Limited wherein he leads initiatives in green energy, including large-scale solar and hydroelectric projects. In the February 2025 Postal Ballot, the company had disclosed that Harmanjit Singh Nagi held a full-time executive role with the company as President of Corporate Development. Thus, due to lack of clarity on his proposed appointment as a non-executive director and given his full-time employment with the company, shareholders’ approval should be sought for his appointment and remuneration as Executive Director. Thus, the AMC has voted against the resolution.
    • Kotak Mahindra Mutual FundHarmanjit Singh Nagi, 59, is the President of Corporate Development at Reliance Power Limited wherein he leads initiatives in green energy, including large-scale solar and hydroelectric projects. He has over thirty years of experience across the power, energy, and environmental sectors in strategic leadership, project development, and business development. He has attended all five board meetings since his appointment to the board (100%). He retires by rotation. In the February 2025 Postal Ballot, the company had disclosed that Harmanjit Singh Nagi held a full-time executive role with the company as President of Corporate Development. Hence, we believe that there is a lack of clarity on his proposed appointment as a non-executive director. Given his full-time employment with the company, shareholders approval should be sought for his appointment and remuneration as Executive Director. We do not support his reappointment.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    • Nippon India Mutual FundTransparency concern: No adequate disclosure
    5 for11 against
  • Remuneration to Cost Auditors
    Against Axis Mutual Fund
    • Axis Mutual FundHarmanjit Singh Nagi, 59, is the President of Corporate Development at Reliance Power Limited wherein he leads initiatives in green energy, including large-scale solar and hydroelectric projects. He has over thirty years of experience across the power, energy, and environmental sectors in strategic leadership, project development, and business development. He has attended all five board meetings since his appointment to the board (100%). He retires by rotation. In the February 2025 Postal Ballot, the company had disclosed that Harmanjit Singh Nagi held a full-time executive role with the company as President of Corporate Development. Hence, we believe that there is a lack of clarity on his proposed appointment as a non-executive director. Given his full-time employment with the company, shareholders’ approval should be sought for his appointment and remuneration as Executive Director. We do not support his reappointment.
    15 for1 against
  • Re-appointment of Shri Vijay Kumar Sharma (DIN: 02449088) as an Independent Director
    16 for0 against
  • Appointment of Secretarial Auditors
    16 for0 against
  • Issue of securities through qualified institutions placement
    16 for0 against
  • Issue of Non-Convertible Debentures
    16 for0 against

Mutual fund votes, meeting of 3 Nov 2024, 1 fund house

  • Introduction and Implementation of ‘Reliance Power Employee Stock Option Scheme 2024’
    Against HDFC Mutual Fund
    • HDFC Mutual FundThere is lack of clarity on the exercise price of ESOPs. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees.
    0 for1 against
  • Extension of ‘Reliance Power Employee Stock Option Scheme 2024’ to the employees of group companies including its subsidiaries, associates and holding company
    Against HDFC Mutual Fund
    • HDFC Mutual FundThere is lack of clarity on the exercise price of ESOPs. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees.
    0 for1 against

Mutual fund votes, meeting of 23 Oct 2024, 4 fund houses

  • Issue of Securities on Preferential Basis
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Warrants being priced based on formula to price equity shares as per SEBI ICDR despite both being different instruments. No urgent need of funds. Lack of clarity regarding basis of selecting allottees.; Cumulative dilution appears to be excessive.
    1 for3 against

Mutual fund votes, meeting of 3 Aug 2024, 4 fund houses

  • To consider and adopt:na)tthe audited financial statement of the Company for the financial year ended March 31, 2024 and the reports of the Board of Directors and Auditors thereon, andnnb)t the audited consolidated financial statement of the Company for the financial year ended March 31, 2024 and the report of the Auditors thereonMoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with Indian Accounting Standards. Governance Concern: Auditors have made qualifications in their report regarding material uncertainty related to going concern.
    3 for1 against
  • To appoint a Director in place of Shri Sateesh Seth (DIN:00004631), who retires by rotation under the provisions of the Companies Act, 2013 and being eligible, offers himself for re-appointment
    4 for0 against
  • Remuneration to Cost Auditors
    4 for0 against
  • Issuance of Foreign Currency Convertible Bonds and/or any other similar securitiesn
    4 for0 against
  • Issue of securities through qualified institutions placement on a private placement basis to the qualified institutional buyers
    4 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
No
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Preferential IssuesMay 2025, checked by Infomerics Valuation and Rating Limited24.75––No
Preferential IssuesMay 2025, checked by Infomerics Valuation and Rating Limited24.75––No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.