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Reliance Infrastructure's board has given its nod to raise up to INR 9,000 crore through a mix of equity and debt instruments. This includes a proposed INR 6,000 crore via equity shares or equity-linked instruments through Qualified Institutional Placement (QIP), follow-on public offer, or a combination of both. Additionally, the board approved the issuance of redeemable non-convertible debentures of up to INR 3,000 crore through private placement or other methods. These plans remain subject to statutory and regulatory approvals.
Reliance Infrastructure has received approval from its board to raise a total of up to INR 9,000 crore through a combination of equity and debt routes. As disclosed in a regulatory filing, the board authorised seeking member approval to raise up to INR 6,000 crore by issuing equity shares, equity-linked instruments, or other eligible securities. These instruments may be offered to qualified institutional buyers through a Qualified Institutional Placement (QIP), a follow-on public offer, or a combination of both routes. Advertisement
In addition to the equity component, the board has also sanctioned the issuance of redeemable non-convertible debentures, either secured or unsecured, amounting to a maximum of INR 3,000 crore. These debentures may be issued in one or more tranches, either through private placement or by other permissible means.
The company clarified that the proposed fundraising initiatives are contingent on receiving the necessary permissions, sanctions, and regulatory clearances in accordance with the applicable legal provisions.
Reliance Infrastructure, part of the Reliance Anil Dhirubhai Ambani Group, has been focusing on strengthening its financial structure and capital base through strategic capital-raising efforts. The firm has previously turned to QIPs and asset monetisation to reduce its debt burden and fund ongoing infrastructure developments.
While the structure of the instruments offers flexibility, the move also signals the company's intent to stay financially nimble amid evolving market conditions. The eventual success of this fundraising effort will hinge on investor response and the pace of regulatory approvals.
Source - PTI
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