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Reliance Infrastructure gets nod to raise upto Rs 6,014 crore via preferential issue, QIP

20 Sep 2024 Evaluate

Reliance Infrastructure has received approval from Board of Directors for raising of Rs 3,014 crore by preferential issue of upto 12.56 crore equity shares and /or warrants convertible into equivalent number of equity shares of the Company for cash, at a price of Rs 240 per Share/warrant arrived at in accordance with the SEBI ICDR Regulations. 

The Preferential Issue shall be made to Risee Infinity, a promoter group company and to other investors namely Florintree Innovation LLP and Fortune Financial & Equities Services. The Preferential Issue will result in enhancing the Promoters equity stake.

The Preferential Issue shall be made in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and other applicable law. The Board also approved seeking enabling authorisation from the Shareholders to raise upto Rs 3,000 crore by making a Qualified Institutional Placement (QIP).

The Preferential Issue proceeds would be utilised for Expansion of Business Operations directly and/or through investment in subsidiaries and joint ventures including meeting the long-term working capital requirements and for general corporate purposes.

Preferential Issue will enhance the Company’s networth from over Rs 9,000 crore to over Rs 12,000 crore. The Company has near ZERO debt. The enhanced capital will support the Company’s participation in high growth sectors to aid the Government’s vision of ‘Make in India’ and ‘Viksit Bharat’. The Board also approved issuance of postal ballot to seek shareholders’ approval for the preferential Issue and QIP.

Reliance Infrastructure (RInfra) is one of the largest infrastructure company, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors within the infrastructure space such as Power, Roads, Airport, Metro Rail and Defence. The company is having presence across the value chain of power business and also provides Engineering and Construction (E&C) services for various infrastructure projects.

Reliance Infra Share Price

83.11 0.00 (0.00%)
20-Apr-2026 16:59 View Price Chart
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