Rel Infra to raise Rs 550 cr from Anil Ambani group, Varde Investment
The Board of Directors of Reliance Infrastructure on Sunday approved raising of funds up to Rs 550.56 crore from its promoter, the Anil Ambani group and from Varde Investment.
The company said it will make a preferential allotment of up to 88.8 million equity shares and / or warrants convertible into equivalent number of shares, to promoter group and VFSI Holdings Pte. Limited, an affiliate of Värde Investment Partners, LP.
The funds raised would be utilised for long term resources, for general corporate purposes, fund future growth and also to reduce the debt of the company.
The Board approved seeking approval of shareholders through a postal ballot in a meeting held today.
