Reliance Infrastructure to Consider Raising Long-Term Resources

Reliance Infrastructure's board will meet on October 1, 2024, to consider raising long-term funds from domestic and global markets, following a Rs 3,000-crore preferential issue approved on September 19. The new funds will support the company's growth and zero-debt status, aligning with India's economic vision.

Reliance Infrastructure announced that its board will meet next Tuesday, October 1, 2024, to consider raising long-term resources from both domestic and global markets. This follows a recent board approval for a Rs 3,000-crore preferential issue on September 19.

In a regulatory filing, the company stated that the upcoming board meeting would discuss methods to raise funds, including equity shares, equity-linked securities, and foreign currency convertible bonds, among others. The prior preferential issue was aimed at enhancing promoter equity stakes.

The proceeds from these issuances are intended for business expansion, working capital requirements, and general corporate purposes. The company emphasized that this initiative supports its zero-debt status and aligns with India's 'Make In India' and 'Viksit Bharat' visions.

(With inputs from agencies.)