Live
- India Faces Blow as Pacer Mohammed Shami Ruled Out for Remainder of Australia Series
- Biden Pardon: Joe Biden Commutes Death Sentences of 37 Inmates, Including Child Killers and Mass Murderers
- South Korea: Yoon believes impeachment trial takes priority over martial law probe
- Strict Action for Non-Adherence to Time Management - DMHO Dr. Swarajya Lakshmi
- Over 13.29 lakh houses approved for rural poor in Maharashtra: Shivraj Chouhan
- District Collector Urges Timely Completion of Indiramma Housing Scheme Survey
- Digital Arrest Scam: Hyderabad Man Duped of ₹7 Lakhs by Fake Crime Branch Police Callers
- Sukhbir Badal seeks President's Police medal for officer who saved his life
- US Firm Accordion Acquires Merilytics, Launches 1,500-Seater Office in Hyderabad
- Free Medical Camp Organized by Alampur Advocate Bar Association
Rel Infra to get Rs 3k-cr equity infusion
Anil Ambani
Anil Ambani’s flagship firm, Reliance Infrastructure Ltd is set to receive Rs1,100 crore equity infusion from the promoters and another Rs1,910 crore from two Mumbai-based investment firms, according to a filing by the company.
New Delhi: Anil Ambani’s flagship firm, Reliance Infrastructure Ltd is set to receive Rs1,100 crore equity infusion from the promoters and another Rs1,910 crore from two Mumbai-based investment firms, according to a filing by the company. The board of the company had on Thursday approved Rs6,000-crore fund raise plan, of which Rs3,014 crore was to be raised through preferential allotment of shares and Rs3,000 crore share issue to institutional buyers.
In the first phase, the company is launching Rs3,014 crore preferential placement under which 12.56 crore equity shares or convertible warrants will be issued at an issue price of Rs240 per share, according to the company’s postal ballot seeking shareholder nod for share issue. Out of this, Rs1,104 crore will be invested by promoters of Reliance Infrastructure through promoter company Risee Infinity Private Limited. Risee will subscribe to 4.60 crore shares. The two other investors participating in the preferential issue are Mumbai-based Fortune Financial & Equities Services and Florintree Innovations LLP.
Florintree is owned by former Blackstone executive Mathew Cyriac, while Fortune Financial is owned by Nimish Shah. Promoters hold 21.34 per cent in Reliance Infra. Fortune Financial & Equities Services is going to invest Rs1,058 crore by subscribing to 4.41 equity shares through preferential allotment, while Florintree Innovations will invest Rs852 crore. The firm will be allotted 3.55 crore shares. Preferential issues will enhance Reliance Infra’s net worth from Rs9,000 crore to Rs12,000 crore, with near zero debt.
