Reliance Infrastructure has received approval from Board of Directors for raising of Rs 3,014 crore by preferential issue of upto 12.56 crore equity shares and /or warrants convertible into equivalent number of equity shares of the Company for cash, at a price of Rs 240 per Share/warrant arrived at in accordance with the SEBI ICDR Regulations.
The Preferential Issue shall be made to Risee Infinity, a promoter group company and to other investors namely Florintree Innovation LLP and Fortune Financial & Equities Services. The Preferential Issue will result in enhancing the Promoters equity stake.
The Preferential Issue shall be made in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and other applicable law. The Board also approved seeking enabling authorisation from the Shareholders to raise upto Rs 3,000 crore by making a Qualified Institutional Placement (QIP).
The Preferential Issue proceeds would be utilised for Expansion of Business Operations directly and/or through investment in subsidiaries and joint ventures including meeting the long-term working capital requirements and for general corporate purposes.
Preferential Issue will enhance the Company’s networth 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’. The Board also approved issuance of postal ballot to seek shareholders’ approval for the preferential Issue and QIP.
Reliance Infrastructure (RInfra) is one of the largest infrastructure company, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors within the infrastructure space such as Power, Roads, Airport, Metro Rail and Defence. The company is having presence across the value chain of power business and also provides Engineering and Construction (E&C) services for various infrastructure projects.
| Company Name | CMP |
|---|---|
| NTPC | 356.10 |
| Tata Power | 408.45 |
| Power Grid Corp | 325.80 |
| Adani Power | 476.15 |
| Torrent Power | 1583.00 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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