These shares of Reliance are in discussion today on Monday and on October 21. The company's shareholders have given the go-ahead to raise Rs 6,000 crore through a preferential issue and qualified institutional placement (QIP). Let us tell you that the shares of the company have fallen by 4.5% to 265.50. Last Friday its closing price was Rs. was 278.20.
In the first phase, the company will raise Rs 3,014 crore through preferential issue. This will involve an offer of 12.56 crore equity shares or convertible warrants at Rs 240 per share. The promoter will invest Rs 1,104 crore by subscribing 4.60 crore shares through his firm Risi Infinity Private Limited.
Mumbai-based investor Fortune Financial and Equities Services will invest Rs 1,058 crore, while Florintree Innovations LLP, led by former Blackstone executive Matthew Cyriac, will invest Rs. 852 crore will contribute. Both the investors will together acquire 7.96 crore shares.
Apart from raising funds, shareholders also approved the appointment of Manjari Kakkar as an independent director. Let us tell you that Reliance Infrastructure aims to use the new funds to increase its net worth and reduce debt. The net worth of the company is expected to increase from Rs 9,000 crore to Rs 12,000 crore.
Shares of Reliance Infrastructure have performed strongly in recent times. However, it has been decreasing since last few days.
Reliance Infrastructure's share price has gained 49.6 percent in the last three months and 44.45 percent in the last six months. In the year 2024, this figure increased to 34.06 percent annually.
Reliance Infrastructure's share price has risen over 66 percent in the last year. This stock has returned up to 850% in the last five years. However, in the long run it has also suffered huge losses.
Let us tell you that on 11 January 2008, the price of this share was 2485 rupees. That is, since then till now it has decreased by 90%.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.
