Reliance Infrastructure reports no deviation in Rs 3,014.40 crore warrant issue proceeds

Arunika Jain — Fri, 15 May 2026 14:10:53 +0000

Reliance Infrastructure Limited has reported no deviation in the utilisation of proceeds from its Rs 3,014.40 crore preferential issue of convertible warrants. The monitoring agency report for the quarter ended March 31, 2026, submitted by Infomerics Valuation and Rating Limited, confirms that the proceeds have been utilised as per the disclosed objectives.

The report, dated May 15, 2026, states that there were no deviations from the objects of the issue, with both financial and non-financial deviations recorded as nil. The agency highlighted that the utilisation of funds was in line with the offer document, and no material deviations were observed.

The preferential issue, which took place between October 25, 2024, and November 8, 2024, involved the issuance of 12,56,00,000 warrants convertible into equity shares at an issue price of Rs 240 per warrant. The proceeds were earmarked for specific purposes, and as of the quarter ended March 31, 2026, no new proceeds were received or utilised.

Reliance Infrastructure had previously allotted 1,25,00,000 equity shares to Risee Infinity Private Limited, a promoter company, on June 18, 2025, for a total consideration of ₹300 crore, upon exercise of rights attached to the warrants.

The monitoring agency confirmed that all utilisation was as per the offer document, and there were no changes in the means of finance for the disclosed objects of the issue. Additionally, all necessary government and statutory approvals related to the objects were obtained.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Infomerics Valuation and Rating Limited | Business Upturn

Reliance Infrastructure reports no deviation in Rs 3,014.40 crore warrant issue proceeds