NEW DELHI: Promoters Anil Ambani and family have invested Rs 1,104 crore in the Rs 3,014 crore preferential share issue of Reliance Infrastructure. Ambani and his family, which holds 21.34% in the company has made the investment through Risee Infinity Private Limited. Risee will subscribe to 4.60 crore shares of Reliance Infrastructure.
The other major investors, which subscribed the preferential issue include Fortune Financial & Equities Services, which invested Rs 1,058 crore by subscribing to 4.41 crore equity shares. Florintree Innovations will invest Rs 852 crore for 3.55 crore shares.
The Board of Directors of Reliance Infrastructure on Thursday approved raising of Rs 3,014 crore by preferential issue of up to 12.56 crore equity shares and /or warrants convertible into equity shares at a price of Rs 240 per Share/warrant.
The issue will enhance the promoters’ equity stake. The board approved seeking enabling authorisation from the shareholders to raise up to Rs 3,000 crore by making a qualified institutional placement (QIP).
The issue proceeds would be utilised for the expansion of business operations and for general corporate purposes. In a statement, it said the issue will enhance the company’s net worth from over Rs 9,000 crore to over Rs 12,000 crore. The company has near zero debt.
“The enhanced capital will support the company’s participation in high growth sectors to aid the Government’s vision of ‘Make In India’ and Viksit Bharat,” says the company.