Reliance Infra board to meet on September 19 for preferential issue

1 min read Last updated: September 16, 2024 | 5:56 p.m. IST

The board of directors of Reliance Infrastructure Ltd will meet on September 19 to consider a preferential issue of shares to raise funds, the company said in a stock exchange filing on Monday.

The company had raised Rs 550 crore in July 2021 by issuing shares on a preferential basis, in which the promoters infused Rs 400 crore and Varde Capital Partners – an international investor – subscribed for shares totalling Rs 150 crore.

In the filing, the company said its board meeting on September 19 “will consider and approve the raising of long-term resources in domestic and/or global markets, inter alia, through the issuance of shares/equity-linked securities/warrants convertible into shares, by way of preferential issue and/or qualified institutional placement and/or rights issue or any other method, including determination of the issue price.”

The amount the company was seeking to raise was not disclosed, however.

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First published: September 16, 2024 | 5:56 p.m. IST