Reliance Infrastructure board meeting this week to consider raising funds
Infusion of fresh liquidity will enhance the company's financial flexibility and enable Reliance Infrastructure to become a zero-debt company by March next year
New Delhi: Reliance Infrastructure (RInfra) on Wednesday said its board will meet this week to consider raising funds through various means like issuing equity shares, rights issue and qualified institutional placement.
Infusion of fresh liquidity will enhance the company’s financial flexibility and enable it to become a zero-debt company by March next year, it added.
“The board of directors of the company is scheduled on June 6, inter alia, to consider and approve raising of long-term resources from domestic and/or global markets, inter alia, by issue of equity shares/equity linked securities/ warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method…,” the company said in a filing to BSE.
Reliance Infrastructure already has an EPC order book of over Rs 25,000 crore, power distribution business in Delhi serving 45 lakh customer and defence manufacturing business.
Demonstrating their confidence in the long-term prospects of Reliance Infrastructure Limited, the companies of the promoter group have made a proposal to the board to infuse fresh equity into the company, according to sources.