HOME| Anil Ambani's Reliance Infrastructure to raise over Rs 6,000 crore | Writer | Admin | |||
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| MUMBAI: Anil Ambani's Reliance Infrastructure is looking to raise Rs 6,014 crore to finance its expansion plans. In the first stage, it will raise Rs 3,014 crore through a preferential issue, and in the next stage, it will raise Rs 3,000 crore through a qualified institutional placement (QIP) deal. Former Blackstone honcho Mathew Cyriac and equity investor Nimish Shah will invest Rs 1,814 crore in Reliance Infra's preferential issue for a minority stake. Reliance Infra is raising Rs 3,014 crore through a preferential allotment to finance its expansion, meet its working capital requirements, among other purposes. Cyriac through Florintree Innovation and Shah via Fortune Financial & Equities Services will subscribe to Reliance Infra's equity shares or convertible warrants worth Rs 1,814 crore, While Ambani through Risee Infinity will subscribe to the balance Rs 1,814 crore securities. Risee Infinity already owns about 16% in Reliance Infra.
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