Reliance Infrastructure
Reliance Infrastructure Limited board approves preferential issue to promoters
Mumbai: The Board of Directors of Reliance Infrastructure Limited (RInfra) at its meeting held on Saturday approved raising of funds upto Rs. 550.56 crore by preferential allotment of upto 8.88 crore equity shares and / or warrants convertible into equivalent number of equity sharesof the Company to promoter group and VFSI Holdings Pte. Limited, an affiliate of Värde Investment Partners, LP.
The funds raised would be utilised for long term resources, for general corporate purposes, fund future growth and also to reduce debt.
The Board approved seeking approval of the members of the Company for the above proposal through Postal Ballot.
The above shall be subject to all requisite permissions, sanctions and approvals as may be necessary.
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