Thursday, 29 September, 2022
HomeANI Press ReleasesReliance Infra to raise over Rs 550 crore, reduce debt and fund...

Reliance Infra to raise over Rs 550 crore, reduce debt and fund growth

Text Size:

R-Infra is the flagship company of Reliance Group controlled by Anil Ambani.

Mumbai (Maharashtra) [India], June 7 (ANI): Anil Ambani-led Reliance Infrastructure Ltd is raising funds up to Rs 550.56 crore by preferential allotment of shares to reduce debt and fund future growth.

The board of directors has approved fund raising by preferential allotment of upto 8.88 crore equity shares and/or warrants convertible into equivalent number to promoter group and VFSI Holdings Pte Ltd, an affiliate of Varde Investment Partners LP.

“The funds raised will be utilised for long-term resources, general corporate purposes, fund future growth and also to reduce debt,” the company said in a statement.

The board approved seeking approval of members for the proposal through ostal ballot. The issue price will be Rs 62 for each share based on SEBI’s (Issue of Capital and Disclosure Requirements) Regulations).

Reliance Infrastructure Ltd is one of the largest infrastructure companies, developing projects through various special purpose vehicles in several high growth sectors like power, roads and Metro rail in the infrastructure space and the defence sector. (ANI)

This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.

Subscribe to our channels on YouTube & Telegram

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

Most Popular