 "Rel Infra to consider raising long-term capital; board meeting on Sept 19")
Reliance Infrastructure, an Anil Ambani family-owned company, is considering raising long-term capital from domestic as well as global markets.
According to the company’s stock exchange filing, the funds may be raised by issuance of equity shares, equity-linked securities, or warrants convertible into equity shares by way of preferential issue, qualified institutional placement (QIP), rights issue, or any other method.
On Monday, the company notified the exchanges that a board meeting is scheduled on September 19 to consider and approve the issue price.
The issuance is subject to “members and other approvals, as the board may deem appropriate.”
Earlier, in July 2021, Reliance Infrastructure had raised a capital of Rs 550 crore by issuing shares on a preferential basis, wherein promoters instilled Rs 400 crore and Varde Capital Partners, an international investor, subscribed to shares worth Rs 150 crore.
Additionally, the company posted a total income of Rs 7256.21 crore in the first quarter of financial year (FY) 2025. The company emerged to be loss-making for eight straight quarters. However, its loss narrowed to Rs 69.47 crore, which was Rs 494.83 crore during the same period of FY 2024.
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On Monday, the company’s shares closed at Rs 216.05 against the previous close of Rs 212.57. It gained 1.64 per cent while reporting an intraday high of Rs 223.40 in a day. The company’s market cap stands to be Rs 8546.93 crore.