Reliance Infrastructure informed that its board has approved raising of funds up to Rs 3,000 crore through qualified institutional placement (QIP) and upto Rs 3,014.40 crore through preferential allotment, aggregating to Rs 6,014.40 crore.
The company will issue of up to 12.56 crore equity shares and/or warrants convertible into equity shares at an issue price of Rs 240 and/or warrant, aggregating Rs 3,014.40 crore via preferential allotment.Further, the board has approved raising of funds up to Rs 3,000 crore through issue of equity shares or any other eligible securities to qualified institutional buyers by way of QIP, subject to members' approval.
Reliance-Infra is an infrastructure company, developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads, metro rail and airport in the infrastructure space and in the defence sector.
On a consolidated basis, the company reported net loss of Rs 233.74 crore in Q1 FY25 as against net loss of Rs 672.86 crore in Q1 FY24. Net sales jumped 29.3% to Rs 7,192.83 crore in June 2024 quarter.
The scrip rose 0.71% to close at Rs 284.75 on Thursday, 19 September 2024.
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