Anil Ambani's Reliance Infra to get Rs 1,100 Crore

Anil Ambani’s flagship firm, Reliance Infra Ltd, is expected to receive an equity infusion of Rs 1,100 crore from the promoters and another Rs 1,910 crore from two Mumbai-based investment firms, revealed a company filing. The board of the company had on Thursday approved the Rs 6,000 crore fund raise plan, of which it was going to raise Rs 3,014 crore through preferential allotment of shares and Rs 3,000 crore share issue to institutional buyers.

Reliance Infra Issue Price for Equity Shares

The company will issue Rs 3,014 crore under this preferential placement. It will raise 12.56 crore equity shares or convertible warrants at an issue price of Rs 240 per share, as stated by the company in its postal ballot seeking shareholder nod for the share issue.

From this, the promoters of Reliance Infrastructure will invest Rs 1,104 crore through promoter company Risee Infinity Private Limited. Risee will subscribe to 4.60 crore shares.

The other two investors who will participate in the preferential issue are Fortune Financial & Equities Services based out of Mumbai and Florintree Innovations LLP.

Reliance Infra Number of Equity Shares to Be Issue

Mathew Cyriac, a former Blackstone executive, owns Florintree, and Nimish Shah owns Fortune Financial. Promoters hold 21.34 percent in Reliance Infra. Fortune Financial & Equities Services would invest Rs 1,058 crore. Through the preferential allotment of 4.41 equity shares, and Florintree Innovations will pump in Rs 852 crore. The firm will get 3.55 crore shares.

Preferential issues will raise the net worth of Reliance Infra. From Rs 9,000 crore to Rs 12,000 crore with near zero debt.

E-Voting Timeline for Reliance Infra

The company seeks shareholders’ approval through a postal ballot. E-voting will begin on September 20 and conclude on October 19. The company will announce the result of the postal ballot on October 21.

The company, directly and indirectly, utilizes the funds arising from the Preferential Issue through investments in subsidiaries and joint ventures. Among other uses, to meet long-term working capital requirements and for general corporate purposes.

FAQs for Reliance Infra

1. What is Reliance Infrastructure’s latest fundraising plan?
Reliance Infrastructure plans to raise ₹6,000 crore through a combination of equity infusion and allotments of preferential shares.

2. What are the investments by promoters in Reliance Infrastructure?
Promoters through Risee Infinity Private Limited will invest ₹1,100 crore.

3. Who else is investing in the preferential issue?

Fortune Financial & Equities Services and Florintree Innovations LLP would also invest in the preferential issue.

4. What is the issue price for equity shares?
The company will issue equity shares at ₹240 per share.

5. How many equity shares are to be issued under the preferential placement?
12.56 crore equity shares are proposed to be issued as part of the preferential placement.

6. What will be the estimated outcome of this fundraising on the net worth of Reliance Infrastructure?
Net worth will increase from ₹ 9,000 crore to ₹ 12,000 crore.

7. When will the e-voting for shareholders be open?
E-voting will open on September 20 and close on October 19.

8. When will the results of the postal ballot declare?
The results will be declared on October 21.

9. What will the utilization of funds from the preferential issue be?
The funds will be invested in subsidiaries, long-term working capital requirements, and general corporate purposes.

10. What percentage of Reliance Infrastructure do the promoters hold?
The promoters currently hold 21.34 percent of Reliance Infrastructure.

Anil Ambani’s Reliance Infra to get Rs 1,100 Crore

Reliance Infra Issue Price for Equity Shares

Reliance Infra Number of Equity Shares to Be Issue

E-Voting Timeline for Reliance Infra

FAQs for Reliance Infra

1. What is Reliance Infrastructure’s latest fundraising plan?
Reliance Infrastructure plans to raise ₹6,000 crore through a combination of equity infusion and allotments of preferential shares.

2. What are the investments by promoters in Reliance Infrastructure?
Promoters through Risee Infinity Private Limited will invest ₹1,100 crore.

3. Who else is investing in the preferential issue?

Fortune Financial & Equities Services and Florintree Innovations LLP would also invest in the preferential issue.

4. What is the issue price for equity shares?
The company will issue equity shares at ₹240 per share.

5. How many equity shares are to be issued under the preferential placement?
12.56 crore equity shares are proposed to be issued as part of the preferential placement.

6. What will be the estimated outcome of this fundraising on the net worth of Reliance Infrastructure?
Net worth will increase from ₹ 9,000 crore to ₹ 12,000 crore.

7. When will the e-voting for shareholders be open?
E-voting will open on September 20 and close on October 19.

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Anil Ambani’s Reliance Infra to get Rs 1,100 Crore

Reliance Infra Issue Price for Equity Shares

Reliance Infra Number of Equity Shares to Be Issue

E-Voting Timeline for Reliance Infra

FAQs for Reliance Infra

1. What is Reliance Infrastructure’s latest fundraising plan? Reliance Infrastructure plans to raise ₹6,000 crore through a combination of equity infusion and allotments of preferential shares.

2. What are the investments by promoters in Reliance Infrastructure? Promoters through Risee Infinity Private Limited will invest ₹1,100 crore.

3. Who else is investing in the preferential issue?

Fortune Financial & Equities Services and Florintree Innovations LLP would also invest in the preferential issue.

4. What is the issue price for equity shares? The company will issue equity shares at ₹240 per share.

5. How many equity shares are to be issued under the preferential placement? 12.56 crore equity shares are proposed to be issued as part of the preferential placement.

6. What will be the estimated outcome of this fundraising on the net worth of Reliance Infrastructure? Net worth will increase from ₹ 9,000 crore to ₹ 12,000 crore.

7. When will the e-voting for shareholders be open? E-voting will open on September 20 and close on October 19.

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Leave a Reply Cancel reply

1. What is Reliance Infrastructure’s latest fundraising plan?
Reliance Infrastructure plans to raise ₹6,000 crore through a combination of equity infusion and allotments of preferential shares.

2. What are the investments by promoters in Reliance Infrastructure?
Promoters through Risee Infinity Private Limited will invest ₹1,100 crore.

4. What is the issue price for equity shares?
The company will issue equity shares at ₹240 per share.

5. How many equity shares are to be issued under the preferential placement?
12.56 crore equity shares are proposed to be issued as part of the preferential placement.

6. What will be the estimated outcome of this fundraising on the net worth of Reliance Infrastructure?
Net worth will increase from ₹ 9,000 crore to ₹ 12,000 crore.

7. When will the e-voting for shareholders be open?
E-voting will open on September 20 and close on October 19.