New Delhi: Reliance Power Ltd has received approval from both the BSE and the National Stock Exchange (NSE) for reclassifying Reliance Capital Limited (RCap) from the promoter group to the public shareholder category, the company said in a regulatory disclosure on Monday.
The move follows the implementation of the resolution plan for Reliance Capital by IndusInd International Holdings Ltd under the Insolvency and Bankruptcy Code (IBC), which altered the ownership and control dynamics of the debt-laden financial services conglomerate. With this change, Reliance Capital no longer qualifies as part of the promoter group of Reliance Power under SEBI’s Regulation 31A provisions.
In their letters dated December 8, 2025, both BSE and NSE granted no-objection to Reliance Power’s application filed earlier on October 10, 2025, confirming that the company had met the regulatory requirements for promoter reclassification. The exchanges also directed Reliance Power to ensure ongoing compliance with all subsequent disclosure obligations arising from this change.
Reliance Power had previously notified exchanges of the proposed reclassification in August and October this year, as part of a broader corporate cleanup following the insolvency proceedings involving several Reliance Group entities.
The filing, signed by Ramandeep Kaur, Company Secretary, marks a significant governance milestone for the company as it distances itself from entities undergoing resol ution.