R-Infra gets shareholders nod to raise Rs 550 cr via preferential allotment

Reliance Infrastructure Ltd on Wednesday said its shareholders have approved raising funds up to Rs 550.56 crore through issuance of shares on a preferential basis.

The funds raised would be utilised for long-term resources, for general corporate purposes and to fund future growth, the company said in a regulatory filing.

“The shareholders of Reliance Infrastructure through postal ballot, have approved with overwhelming majority, the raising of funds up to Rs 550.56 crore by preferential allotment,” the filing said.

The funds will be raised through preferential allotment of up to 8.88 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company to promoters and VFSI Holdings Pte Ltd, an affiliate of Vrde Investment Partners, LP, the filing added.