Mon Oct 07 23:21:21 UTC 2024: ## Anil Ambani’s Companies Eye Big Comeback with Rs 17,600 Crore Funding
Anil Ambani is staging a comeback in the Indian business world, with his companies, Reliance Infrastructure and Reliance Power, aiming to raise a massive Rs 17,600 crore. The move is part of a strategy to become debt-free and chart a new course for growth.
The companies have already secured Rs 4,500 crore through preferential and equity shares, with Rs 1,750 crore coming from existing promoters. Additionally, they have received Rs 7,100 crore from global investment fund, Warde Partners, in the form of equity-linked foreign currency convertible bonds with a five-year tenure and 5% interest.
Reliance Infrastructure and Reliance Power are also aiming to raise Rs 3,000 crore each through institutional placement. These measures will provide the necessary capital to achieve their ambitious target of becoming Rs 25,000 crore companies.
The Rs 4,500 crore secured from preferential shares has been contributed by four companies: Fortune Financial & Equities Services, Florintree Innovations LLP, Autumn Investment & Infrastructure, and Sanatan Financial Advisory.
This ambitious fundraising spree signals a significant comeback attempt by Anil Ambani and his companies, who are aiming to regain their foothold in the Indian market.
First Piper 