Reliance Infrastructure is creating tasks by means of numerous particular function automobiles (SPVs) in a number of excessive development sectors.
Reliance Infrastructure had earlier stated the funds could be utilised for long-term sources for common company functions, to fund future development and likewise to cut back debt.
- PTI New Delhi
- Last Updated:July 19, 2021, 23:00 IST
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Reliance Infrastructure Ltd on Monday stated it has raised Rs 550.56 crore by means of issuance of securities on preferential foundation. Post allotment, the holding of the promoter group in Reliance Infra would enhance to 22.06 per cent upon full conversion of warrants, the corporate stated in an announcement.
“Consequent to approval from members, by means of postal poll, Reliance Infrastructure Ltd (Reliance Infra) has in the present day allotted 8.88 crore warrants convertible into equal quantity of fairness shares of the corporate to Risee Infinity Private Ltd, a promoter group firm and VFSI Holdings Pte Limited, an affiliate of Varde Investment Partners, LP,” the statement said.
Reliance Infrastructure had earlier said the funds would be utilised for long-term resources for general corporate purposes, to fund future growth and also to reduce debt.
Reliance Infrastructure is developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and the defence sector.
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