Rajiv Rattan, founding chairman reaffirming his faith in the power sector and strong commitment in Indiabulls Power is further investing Rs 3.60 billion through a preferential allotment of shares in the company. This investment is at a 30% premium to the Friday closing price of Rs 9 a share.

In view of recent positive policy decisions and proactive approach by Central Government in resolving power sector issues, the worst seems to be over and things are looking up for the sector. ''I feel that policy vacuum in power sector in bottoming out with the current proactive central government and I have firm belief in the long term prospects of power sector in India,''said Rajiv Rattan.

Apart from this equity infusion of Rs 3.6 billion in the company, Rajiv Rattan who had incubated and scaled up the power business within the Indiabulls Group has also bought out complete shareholding of Sameer Gehlaut and Saurabh Mittal in the holding company Indiabulls Infrastructure and Power  in separate transactions. Post the reorganization within the promoters of Indiabulls Group, Rajiv Rattan and Saurabh Mittal continue to hold 15% stake in Indiabulls Housing Finance, 18% stake in Indiabulls Securities and a substantial stake in Indiabulls Real Estate valued at around Rs 30 billion.

Shares of the company gained Rs 0.45, or 4.97%, to trade at Rs 9.51. The total volume of shares traded was 251,200 at the BSE (11.25 a.m., Monday).