Thu Sep 19 23:49:38 UTC 2024: ## Reliance Infrastructure to Raise ₹3,014 Crore Through Preferential Issue and QIP
**Mumbai, September 19, 2024:** Reliance Infrastructure Ltd. has announced plans to raise ₹3,014 crore through a preferential issue of equity shares and/or warrants to investors, including promoter group company Risee Infinity Private Ltd. The company will also seek shareholder approval for a Qualified Institutional Placement (QIP) of up to ₹3,000 crore.
The preferential issue, priced at ₹240 per share/warrant, will be made to Risee Infinity Private Ltd., Florintree Innovation LLP, and Fortune Financial & Equities Services Private Ltd. The proceeds from the preferential issue will be used to expand business operations, invest in subsidiaries and joint ventures, meet long-term working capital requirements, and for general corporate purposes.
The successful completion of the preferential issue is expected to boost Reliance Infrastructure’s net worth from over ₹9,000 crore to over ₹12,000 crore. The company’s board of directors has also approved seeking shareholder authorization for the QIP, which will be conducted through a postal ballot.
First Piper 