Reliance Infrastructure to Raise Rs 2,930 Crore via FCCBs

Reliance Infrastructure's board has approved raising Rs 2,930 crore by issuing unsecured FCCBs to VFSI Holdings Pte Limited. The bonds come with a 5% per annum coupon and a 10-year maturity. The board also passed an Employees Stock Option Scheme (ESOS) for all employees, unlocking their earning potential.

Reliance Infrastructure on Tuesday announced its board's approval to raise Rs 2,930 crore by issuing unsecured foreign currency convertible bonds (FCCBs) to VFSI Holdings Pte Limited.

According to a regulatory filing, the bonds will have an ultra-low-cost coupon of 5 percent per annum with a long maturity of 10 years. The move signifies a major financial step for Reliance Infrastructure.

Additionally, the board approved an Employees Stock Option Scheme (ESOS) granting up to 2.60 crore equity shares valued at over Rs 850 crore, representing 5 percent of fully diluted capital, further aligning employee earnings with the company's growth.

(With inputs from agencies.)