Tuesday, November 5, 2024

Reliance Infra Board to Meet on Sept 19 for Preferential Issue

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New Delhi: Reliance Infrastructure Ltd announced that its board will convene on September 19 to discuss a preferential share issue for fundraising, according to a stock exchange filing made on Monday.

Previously, in July 2021, the company secured Rs 550 crore through a preferential share issue, with promoters contributing Rs 400 crore and Varde Capital Partners, an international investor, subscribing to shares worth Rs 150 crore.

The filing stated that on September 19, the board will “consider and approve the raising of long-term resources from domestic and/or international markets, by issuing equity shares, equity-linked securities, or warrants convertible into equity shares, through a preferential issue, qualified institutional placement, rights issue, or any other method, including the determination of the issue price.”

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