Reliance Infra approves Rs 3,000 crore capital raising via preferential issue

Reliance Infrastructure's Board of Directors has approved a preferential issue of equity shares totaling up to Rs 3,014.4 crore, comprising up to 12.56 crore shares or convertible warrants at an issue price of Rs 240 per share.

In a regulatory filing, the company said the preferential issue will be made to Risee Infinity Private Limited, a promoter group company, along with other investors including Florintree Innovation LLP and Fortune Financial and Equities Services Private Limited.

The company said the proceeds from the preferential issue will be used for expanding business operations, including investments in subsidiaries and joint ventures, and to meet long-term working capital requirements as well as general corporate purposes.


"Preferential issue will enhance the company’s net worth from over Rs 9,000 crore to over Rs 12,000 crore," the company said adding that it has near zero debt.

"The enhanced capital will support the company’s participation in high-growth sectors," the company added.

A postal ballot notice will be sent to shareholders to seek approval for these initiatives.

Shares of the company closed little changed on Thursday at ₹282.80