Reliance Infrastructure to raise Rs 550 cr from promoters
ECONOMY & POLICY

Reliance Infrastructure to raise Rs 550 cr from promoters

On Sunday, Anil Ambani's Reliance Infrastructure Ltd said that its board members have approved raising a sum of Rs 550.56 crore by preferential allotment of around 88.8 million shares and warrants into shares of the company to the promoter VFSI Holdings Pvt Ltd, an affiliate of Varde Investment Partners LP.

The shares and warrants will be issued at Rs 62 per unit based on the Securities and Exchange Board of India (SEBI) regulations, the company said.

On Friday, shares of Reliance Infrastructure closed at Rs 69.85 apiece on the BSE.

The company is involved with developing projects through special purpose vehicles (SPVs) in many high growth sectors like power, roads and metro in the infrastructure space and defence sector.

It is a provider of engineering and construction (E&C) services for developing power, infrastructure, road and metro projects.

Through SPVs, it has also executed a portfolio of infrastructure projects like Mumbai's metro railroad project on build, own, operate, and transfer (BOOT) basis; nine road projects on a build, operate and transfer (BOT) basis.

Reliance Infrastructure has made a presence in Delhi's power distribution business. The company said that the promoters will invest Rs 400 crore as a part of this investment, and Varde Investment Partners will invest Rs 150 crore. Following the investment, the public investors will own 70% of the company, promoters will hold 23% of the company, while Varde with 7%.

It has been looking to monetize the company's assets to reduce its debt. It closed the sale of its Delhi-Agra toll road project in January to private equity investor I Squared Capital's Indian roads platform Cube Highways for an enterprise value of Rs 3,600 crore.

Image Source


Also read: Nuvoco Vistas Corp files DRHP for Rs 5,000 cr IPO

Also readDLF rental arm raises Rs 2,500 cr in two LRDs

On Sunday, Anil Ambani's Reliance Infrastructure Ltd said that its board members have approved raising a sum of Rs 550.56 crore by preferential allotment of around 88.8 million shares and warrants into shares of the company to the promoter VFSI Holdings Pvt Ltd, an affiliate of Varde Investment Partners LP. The shares and warrants will be issued at Rs 62 per unit based on the Securities and Exchange Board of India (SEBI) regulations, the company said. On Friday, shares of Reliance Infrastructure closed at Rs 69.85 apiece on the BSE. The company is involved with developing projects through special purpose vehicles (SPVs) in many high growth sectors like power, roads and metro in the infrastructure space and defence sector. It is a provider of engineering and construction (E&C) services for developing power, infrastructure, road and metro projects. Through SPVs, it has also executed a portfolio of infrastructure projects like Mumbai's metro railroad project on build, own, operate, and transfer (BOOT) basis; nine road projects on a build, operate and transfer (BOT) basis. Reliance Infrastructure has made a presence in Delhi's power distribution business. The company said that the promoters will invest Rs 400 crore as a part of this investment, and Varde Investment Partners will invest Rs 150 crore. Following the investment, the public investors will own 70% of the company, promoters will hold 23% of the company, while Varde with 7%. It has been looking to monetize the company's assets to reduce its debt. It closed the sale of its Delhi-Agra toll road project in January to private equity investor I Squared Capital's Indian roads platform Cube Highways for an enterprise value of Rs 3,600 crore. Image Source Also read: Nuvoco Vistas Corp files DRHP for Rs 5,000 cr IPO Also read: DLF rental arm raises Rs 2,500 cr in two LRDs

Next Story
Products

Viva ACP Launches FR A1-Rated Honeycomb Panels for Fire Safety

Viva, Asia’s largest manufacturer and supplier of aluminium composite panels (ACP) introduced its FR A1-rated Honeycomb Panels, setting a new industry benchmark for fire safety and architectural excellence. Engineered to deliver exceptional performance, these panels combine advanced fire-resistance technology with aesthetic versatility, offering a revolutionary solution for safety-critical environments.The FR A1 rating represents the highest standard of fire resistance under the European Standard EN 13501-1, signifying non-combustibility and zero contribution to fire, smoke, or toxic emissio..

Next Story
Real Estate

Almal Real Estate Expands into Commercial, Global Markets

Almal Real Estate Development is soon to announce its upcoming expansion into new verticals and international markets as part of its strategic growth plans for 2030. The company, known for its innovative luxury residential and hospitality developments, is preparing to diversify into the commercial sector with the introduction of The Smart Space, a network of business centers in UAE featuring five-star amenities. Additionally, Almal is entering new markets in Bali and Thailand as a community developer, focusing on villa and townhouse projects.The expansion into the commercial real estate sector..

Next Story
Infrastructure Urban

NABARD Approves Rs 9.03 Billion for 127 Projects in Himachal

The Himachal Pradesh government has secured approval from the National Bank for Agriculture and Rural Development (NABARD) for 127 projects worth Rs 9.03 billion for the 2024-25 fiscal, Chief Minister Sukhvinder Singh Sukhu announced. During a meeting with MLAs from Kangra, Kullu, Kinnaur, Solan, Chamba, Bilaspur, and Lahaul-Spiti districts to discuss priorities for the 2025-26 budget, Sukhu said the approved projects include 50 MLA-priority schemes under the Public Works Department, valued at Rs 4.12 billion, and 23 MLA-priority schemes under the Jal Shakti Vibhag, costing Rs 1.79 billio..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?