Shares of Reliance Infrastructure saw a surge, rising by 5%, following news of upcoming fundraising plans. The company announced that its board will meet on Thursday, September 19, 2024, to consider the approval of raising long-term resources from both domestic and global markets.
The company may explore various options for fundraising, including issuing equity shares, convertible securities, or warrants. The fundraising methods could involve a preferential issue, a qualified institutional placement, or a rights issue. The board will also discuss determining the issue price and seek any necessary approvals from shareholders.
Reliance Infrastructure operates through various special purpose vehicles (SPVs) and focuses on high-growth sectors like power, roads, metro rail, airports, and defence. The company’s shares were trading 4.18% higher at ₹225.09 on NSE as of 9:30 am.
