Reliance Infrastructure Shareholders of ICICI Bank have approved the company’s plan to raise Rs 6,000 crore through preferential issue of shares and qualified institutional placement (QIP) route. In the information given to the stock exchange, the company said that both the proposals have got the approval of the shareholders, in which more than 98 percent voting was done in favor of the proposals through postal ballot. The board of directors of Reliance Infrastructure had on September 19 approved a plan to raise Rs 6,000 crore. Of this, Rs 3,014 crore was to be raised through preferential allotment of shares or convertible warrants, while Rs 3,000 crore would be raised through QIP.
Raiji will buy 4.60 crore shares
In the first phase, Reliance Infrastructure is launching a preferential placement of Rs 3,014 crore by issuing 12.56 crore equity shares or convertible warrants at an issue price of Rs 240 per share. Of this, Rs 1,104 crore will be invested by the promoters of Reliance Infrastructure through the promoter company Raizi Infinity Private Limited. Raiji will buy 4.60 crore shares. The two other investors participating in the preferential issue are Mumbai-based Fortune Financial & Equities Services and Florintry Innovations LLP. Florintry is owned by former Blackstone executive Matthew Cyriac, while Fortune Financial is owned by Nimish Shah.
share price
Reliance Infrastructure shares closed at Rs 278.20 on the Bombay Stock Exchange on Friday. 52 week high of this share is Rs 350.90. Whereas, 52 week low is Rs 143.70. The market cap of the company closed at Rs 11,020.37 crore on BSE on Friday.
