Rs 3k-cr Equity Infusion Into Rel Infra

New Delhi: Anil Ambani’s flagship firm, Reliance Infrastructure Ltd is set to receive Rs1,100 crore equity infusion from the promoters and another Rs1,910 crore from two Mumbai-based investment firms, according to a filing by the company.

The board of the company had on Thursday approved Rs6,000-crore fund raise plan, of which Rs3,014 crore was to be raised through preferential allotment of shares and Rs3,000 crore share issue to institutional buyers.

In the first phase, the company is launching Rs3,014 crore preferential placement under which 12.56 crore equity shares or convertible warrants will be issued at an issue price of Rs240 per share, according to the company’s postal ballot seeking shareholder nod for share issue. Out of this, Rs1,104 crore will be invested by promoters of Reliance Infrastructure through promoter company Risee Infinity Private Limited. Risee will subscribe to 4.60 crore shares. The two other investors participating in the preferential issue are Mumbai-based Fortune Financial & Equities Services and Florintree Innovations LLP.