Reliance Infrastructure gets Rs 1,100 crore infusion from promoters

Anil Ambani's Reliance Infrastructure is set to receive Rs 1,100 cr equity infusion from the promoters and another Rs 1,910 crore from two Mumbai-based investment firms

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Reliance Infrastructure gets Rs 1,100 crore infusion from promoters
Anil Ambani's Reliance Infrastructure is set to receive Rs 1,100 crore equity infusion from the promoters and another Rs 1,910 crore from two Mumbai-based investment firms, according to a stock exchange filing by the company today.
Earlier, on Thursday, September 19, the company's board had approved a fund-raise plan of more than Rs 6,000 crore, of which Rs 3,014 crore were to be raised through a preferential allotment of equity shares and Rs 3,000 crore through a qualified institutional placement (QIP).
In the first phase, the company will be launching a Rs 3,014 crore preferential placement under which 125.6 million equity shares or convertible warrants will be issued at an issue price of Rs 240 per share.
Of this issue, Rs 1,104 crore will be invested by the promoters of Reliance Infrastructure through the promoter company Risee Infinity Private Limited.
Risee will subscribe to 46 million shares.
The two other investors participating in the preferential issue are Mumbai-based Fortune Financial & Equities Services and Florintree Innovations LLP.
Fortune Financial & Equities Services is going to invest Rs 1,058 crore by subscribing to 44.1 million equity shares through the preferential allotment, while Florintree Innovations will invest Rs 852 crore. The firm will be allotted 35.5 million shares.
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