Fri Sep 20 08:42:52 UTC 2024: ## Reliance Infrastructure to Receive ₹3 Billion Equity Infusion from Promoters and Investors

**Mumbai, India – September 19, 2023** – Reliance Infrastructure Ltd, the flagship company of Anil Ambani, is set to receive a significant equity infusion of ₹3,014 crore. This will come from a combination of promoter investment and funds from two Mumbai-based investment firms.

The company’s board of directors approved a ₹6,000 crore fund raise plan, of which this ₹3,014 crore will be raised through a preferential allotment of shares. This involves the issuance of 12.56 crore equity shares or convertible warrants at an issue price of ₹240 per share.

Promoter company Risee Infinity Private Limited will invest ₹1,104 crore, subscribing to 4.60 crore shares. Two other investors, Fortune Financial & Equities Services and Florintree Innovations LLP, are also participating in the preferential issue.

Fortune Financial, owned by Nimish Shah, will invest ₹1,058 crore for 4.41 crore shares. Florintree Innovations, owned by former Blackstone executive Mathew Cyriac, will invest ₹852 crore for 3.55 crore shares.

This infusion is expected to significantly enhance Reliance Infra’s net worth, boosting it from ₹9,000 crore to ₹12,000 crore while reducing debt to near zero.

The company is seeking shareholder approval through a postal ballot, with e-voting commencing on September 20 and concluding on October 19. The results will be announced on October 21.

Reliance Infrastructure plans to use the proceeds from the preferential issue to expand business operations, both directly and through investments in subsidiaries and joint ventures. The funds will also be used to meet long-term working capital requirements and for general corporate purposes.

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