What are the important events and end products of the light reaction?

(N/A) $(i)$ Chlorophyll gets excited and releases a pair of electrons,the energy of which is used to combine $ADP + \Pi$ to form $ATP$. This process is known as photophosphorylation.
$(ii)$ Splitting of water molecule (photolysis of water):
$(a)$ $2H_{2}O \rightarrow 4H^{+} + 4e^{-} + O_{2}$
$(b)$ $NADP^{+} + 2H^{+} + 2e^{-} \rightarrow NADPH + H^{+}$
- The final products of the light reaction are $ATP$,$NADPH$,and $O_{2}$ (as a byproduct).
- The $ATP$ and $NADPH$ produced are utilized in the dark reaction (biosynthetic phase) for the fixation of $CO_{2}$.