Reliance Infra through a preferential issue of Rs. 3,000 crore capital has been allowed to be raised

The Board of Directors of Reliance Infrastructure has allocated Rs. 3,014.4 crore has approved the preferential issue of equity shares, of which up to 12.56 crore shares or Rs. The issue price of 240 per share includes convertible warrants.

In a regulatory filing, the company said the preferential issue will be made with other investors including Risi Infinity Pvt Ltd, a promoter group company, Florintree Innovations LLP and Fortune Financial & Equities Services Pvt Ltd.

The company said the proceeds from the preferential issue will be used for expansion of business operations including investment in subsidiaries and joint ventures and for meeting long-term working capital requirements as well as general corporate purposes.

“The preferential issue will increase the company’s net worth from Rs 9,000 crore to over Rs 12,000 crore,” the company said, adding that it has almost zero debt.

“The increased capital will support the company’s participation in high-growth sectors,” the company added.

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