Reliance Infrastructure Limited (RINFRA) Board Approves Preferential Issue to Promoters and Värde Investment Partners
News Desk, News Nation 360 : The Board of Directors of Reliance Infrastructure Limited (RInfra) at its meeting held has approved raising of funds up to Rs. 550.56 crore by preferential allotment of up to 8.88 crore equity shares and/or warrants convertible into an equivalent number of equity shares of the Company to promoter group and VFSI Holdings Pte. Limited, an affiliate of Värde Investment Partners, LP. The Board approved seeking approval of the members of the Company for the above proposal through Postal Ballot. The funds raised would be utilised for long term resources, for general corporate purposes, fund future growth and also to reduce debt. The above shall be subject to all requisite permissions, sanctions and approvals as may be necessary.
Report : Anustup Kundu