Reliance Infra Share Price (Image Source: iStockphoto)
Reliance Infrastructure Ltd has announced that its board would meet on September 19 to examine a potential preferential share issuance to raise new money. The news was announced in a regulatory filing on Monday, although the specific amount the business hopes to raise has not been disclosed.
The company last funded Rs 550 crore in July 2021 through a similar preferential issuance. At the time, promoters invested Rs 400 crore, with Värde Capital Partners, an international investor, contributing Rs 150 crore.
According to the company’s filing on the exchange, “the board will consider “raising long-term resources from domestic and/or global markets” through various channels, including the issuance of equity shares, equity-linked securities, or warrants convertible into equity. These could be done via preferential issue, qualified institutional placement (QIP), rights issue, or any other method, with the issue price to be determined at a later stage.”
On Monday, the shares of Reliance Infrastructure will closed at Rs 215.75, 1.51 per cent up from the previous day closing. The 52 week high and low of the share is Rs 308 and Rs 143.70 respectively.
According to the BSE analytics, the shares have returns of 17.74 per cent in the last 1 year and 37.77 per cent in the last 2 years.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)