Reliance Infra Rs 60 billion fundraising plan approved by shareholders
ECONOMY & POLICY

Reliance Infra Rs 60 billion fundraising plan approved by shareholders

Shareholders of Reliance Infrastructure have given the green light to the company’s plan to raise Rs 60 billion through a mix of preferential share issues and Qualified Institutional Placement (QIP). In a stock exchange filing, the company confirmed that over 98% of shareholders voted in favour of the resolutions via postal ballot.

Reliance Infrastructure’s board had approved the fundraising plan on September 19, 2024. The company aims to raise Rs 30.14 billion through a preferential allotment of shares or convertible warrants, with the remaining Rs 30 billion to be secured via QIP.

In the initial phase, the company will issue 125.6 million equity shares or convertible warrants at Rs 240 per share to raise Rs 30.14 billion. Promoters, through Risee Infinity Private Ltd., will invest Rs 11.04 billion by subscribing to 46 million shares.

Other investors in the preferential issue include Mumbai-based Fortune Financial & Equities Services and Florintree Innovations LLP, owned by former Blackstone executive Mathew Cyriac. Fortune Financial will invest Rs 10.58 billion for 44.1 million shares, while Florintree will contribute Rs 8.52 billion for 35.5 million shares.

The preferential issue will boost Reliance Infra’s net worth from Rs 90 billion to Rs 120 billion and significantly reduce its debt. The proceeds will be used to expand business operations, invest in subsidiaries and joint ventures, and meet long-term working capital needs and general corporate expenses. (ET)

Shareholders of Reliance Infrastructure have given the green light to the company’s plan to raise Rs 60 billion through a mix of preferential share issues and Qualified Institutional Placement (QIP). In a stock exchange filing, the company confirmed that over 98% of shareholders voted in favour of the resolutions via postal ballot. Reliance Infrastructure’s board had approved the fundraising plan on September 19, 2024. The company aims to raise Rs 30.14 billion through a preferential allotment of shares or convertible warrants, with the remaining Rs 30 billion to be secured via QIP. In the initial phase, the company will issue 125.6 million equity shares or convertible warrants at Rs 240 per share to raise Rs 30.14 billion. Promoters, through Risee Infinity Private Ltd., will invest Rs 11.04 billion by subscribing to 46 million shares. Other investors in the preferential issue include Mumbai-based Fortune Financial & Equities Services and Florintree Innovations LLP, owned by former Blackstone executive Mathew Cyriac. Fortune Financial will invest Rs 10.58 billion for 44.1 million shares, while Florintree will contribute Rs 8.52 billion for 35.5 million shares. The preferential issue will boost Reliance Infra’s net worth from Rs 90 billion to Rs 120 billion and significantly reduce its debt. The proceeds will be used to expand business operations, invest in subsidiaries and joint ventures, and meet long-term working capital needs and general corporate expenses. (ET)

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?