Shares of Anil Ambani-led Reliance Infrastructure is in focus after shareholders overwhelmingly approved the company’s plan to raise Rs 6,000 crore through a Preferential Issue and Qualified Institutional Placement (QIP). The resolutions received over 98% of votes in favour during a postal ballot, signalling strong support for the move.
Reliance Infrastructure’s Preferential Issue Details
In the first phase, Reliance Infrastructure will launch a Rs 3,014 crore preferential issue, offering 12.56 crore equity shares or convertible warrants at Rs 240 per share. Promoters, through Risee Infinity, will contribute Rs 1,104 crore by subscribing to 4.60 crore shares.
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Additionally, two other major investors—Mumbai-based Fortune Financial & Equities Services and Florintree Innovations LLP, led by former Blackstone executive Mathew Cyriac—will invest Rs 1,058 crore and Rs 852 crore, respectively. Together, they will acquire a total of 7.96 crore shares.
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Breakdown of Fundraising Plan
The board had initially approved the fund-raising plan on 19 September. Out of the total Rs 6,000 crore, Rs 3,014 crore will be raised through a preferential allotment of shares or convertible warrants, while the remaining Rs 3,000 crore is set to be raised via a QIP.
Manjari Kacker Joins as Independent Director
In addition to the fund-raising approvals, shareholders also voted in favor of appointing Manjari Kacker as an independent director. Her inclusion on the board is expected to enhance the company’s governance standards, adding valuable expertise to Reliance Infrastructure’s leadership team.
Strengthening Net Worth and Reducing Debt
The Preferential Issue is expected to enhance Reliance Infrastructure’s net worth from Rs 9,000 crore to Rs 12,000 crore, significantly improving the company’s financial health. The fund infusion will also help in reducing the company’s debt load, positioning it for stronger future growth.
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The proceeds from the fundraising will be directed towards expanding the company’s business operations,
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