The Board of Directors of Anil Ambani-backed Reliance Power will meet on June 13 to consider and approve the raising of long-term funding.
This can be through issue of equity shares, equity-linked securities, warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method.
This comes a week after the Board of another Anil Ambani-backed company, Reliance Infrastructure Ltd, approved the raising of funds from promoter group and VFSI Holdings Pte. Limited, an affiliate of Värde Investment Partners, LP.
Rinfra will raise up to ₹550.56 crore by preferential allotment of up to 8.88 crore equity shares at ₹62 each, and/or warrants convertible into an equivalent number of equity shares of the company.