Anil Ambani’s Reliance Infrastructure Shares Are In Focus: Know Why

New Delhi: Shares of Anil Ambani-led Reliance Infrastructure are likely to stay in focus after the company’s shareholders gave a green signal to raise Rs 6,000 crore through a combination of Preferential Issue and Qualified Institutional Placement (QIP). The proposal received overwhelming support, with more than 98 per cent votes in favor during a recent postal ballot.

Reliance Infrastructure Fundraising Plan: Key Details

In the first phase, the company will raise Rs 3,014 crore through a preferential issue. This will involve offering 12.56 crore equity shares or convertible warrants at Rs 240 per share. Promoters, through their firm Risee Infinity Private Limited, will invest Rs 1,104 crore by subscribing to 4.60 crore shares. Fortune Financial & Equities Services, a Mumbai-based investor, will put in Rs 1,058 crore, while Florintree Innovations LLP, led by former Blackstone executive Mathew Cyriac, will contribute Rs 852 crore. Together, the two investors will acquire 7.96 crore shares.

What Is The Purpose Of Fundraising?

Reliance Infrastructure’s plan to raise funds will help in various purposes which include:

– Expanding business operations, including investments in subsidiaries and joint ventures.

– Meeting long-term working capital needs.

Reliance Infrastructure: New Appointment

In addition to the fundraising, shareholders also approved the appointment of Manjari Kacker as an independent director. Her presence is expected to improve the company’s governance and strengthen the leadership team.

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Reliance Infrastructure: Reducing Debt

Reliance Infrastructure aims to use the fresh funds to boost its net worth and reduce debt. The company’s net worth is expected to increase from Rs 9,000 crore to Rs 12,000 crore.

Reliance Infrastructure: Stock Performance

Reliance Infrastructure shares have delivered a strong performance in recent times. Here is the breakdown. Reliance Infrastructure’s share price saw a 49.6 per cent jump in the last three months and 44.45 per cent over the last six months. During year-to-date, the figure converted to 34.06 per cent in 2024. Reliance Infrastructure’s stock price surge more than 66 per cent in the past year.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money-related decisions.)

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