Reliance Infrastructure Board Approves Raising up to ₹9,000 Cr

Reliance Infrastructure on Wednesday said its board approved raising up to ₹9,000 crore via various financial instruments.

In a regulatory filing, the company said its board of directors, at its meeting held on Wednesday, "approved seeking enabling authorisation from the members for raising funds up to ₹6,000 crore".

The fundraise will be through "the issuance of equity shares and/or equity-linked instruments and/or other eligible securities to qualified institutional buyers by way of a Qualified Institutions Placement and /or follow-on public offer or a combination thereof", the company said in the filing.

Further, it also gave its go-ahead to the issuance of secured/ unsecured, redeemable, non-convertible debentures up to ₹3,000 crore, in one or more tranches, on a private placement basis or otherwise, the company said.

The issue of the above securities is subject to requisite permissions, sanctions and approvals and as per the applicable provisions of law.