Private sector lender YES Bank on Tuesday acquired 29.97 percent stake in Rosa Power Supply Company Ltd (RPSCL) by invoking the pledged shares towards the recovery of dues from Reliance Power.

"We wish to inform you that YES BANK Limited has, pursuant to invocation of pledge of shares, acquired 127,321,500 equity shares having nominal value of Rs. 10/-per share, constituting approx. 29.97% of the post-issue paid-up share capital of Rosa Power Supply Company Limited, a wholly-owned subsidiary of Reliance Power Limited," the lender in a filing with the exchanges said.

Rosa Power Supply Company Ltd is a wholly-owned subsidiary of Reliance Power. It is incorporated on September 1, 1994, and is engaged in the business of power generation, according to a regulatory filing.

The Rosa thermal plant (1,200 MW) at Shahjahanpur in Uttar Pradesh, owned by the company generated 4,341 million units for the year ended March 31, 2019.

YES Bank informed that the shares have been acquired upon invocation of the pledge. The filing has been done after prescribed internal procedures for approval of pledge invocation have been concluded, the bank said.

First Published:Jan 14, 2020 9:52 PM IST