Reliance Power said on Friday it will consider raising funds, including an option of stake sale to institutional investors as the Anil Ambani-run company looks to expand its business.

The electric utility company said it is would consider multiple options including equity sale and foreign currency convertible bonds among other options at its board meeeting on October 3.

This is the second round of fundraising within days after the company approved raising ₹15.25 billion ($183 million) through a preferential allotment.

The coal power-generating company has previously stated that it needs capital for expanding into renewable energy sector.

The Navi Mumbai, India-headquarted company had last week said that it had no debt from banks and financial institutions after settling dues of ₹38.72 billion towards its unit.

In August, Ambani was banned from the securities market for five years and fined about $3 million by the Indian markets regulator on charges of fund diversion.