Reliance Infrastructure Plans Preferential Share Issue to Raise Funds

Reliance Infrastructure Ltd's board will meet on September 19 to consider a preferential share issue for raising funds. The company previously raised Rs 550 crore in July 2021 through a similar method, with significant investment from promoters and Varde Capital Partners. The amount to be raised this time has not been disclosed.

Reliance Infrastructure Ltd is set to convene its board on September 19 to deliberate over a preferential share issue to amass funds, a company filing revealed Monday.

In July 2021, the firm successfully raised Rs 550 crore through a preferential share issuance, with Rs 400 crore from promoters and Rs 150 crore from Varde Capital Partners.

The upcoming meeting will focus on approving the procurement of long-term resources from both domestic and international markets, potentially through equity shares, warrants convertable into equity shares, or other methods. The exact amount targeted for this funding effort remains undisclosed.

(With inputs from agencies.)