Yes Bank has acquired a 29.97 percent stake in power generation company Rosa Power Supply Company Limited (RPSCL), the bank said in an exchange filing.
Rosa Power is a wholly-owned subsidiary of Reliance Power Limited.
In December last year, ratings agency ICRA upgraded RPSCL's long and short term rating from ICRA D to ICRA B+ (with a stable outlook) and ICRA A4 respectively. The agency cited the regularisation of debt servicing by Rosa Power, the track record of its plant operations, and adequate coal availability as reasons for the upgrade.
During the first six months of FY20, RPSCL achieved strong operating performance with a plant availability of 98.5 percent and plant load factor of 78 percent, the company noted in a press release.
