Reliance Infra board to meet on September 19 for preferential issue

The board of Reliance Infrastructure Ltd will meet on September 19 to consider a preferential issue of shares to raise funds, the firm said in a stock exchange filing on Monday.

The company had raised Rs 550 crore in July 2021 by issuing shares on preferential basis, wherein promoters infused Rs 400 crore and Varde Capital Partners -- an international investor -- subscribed to shares aggregating Rs 150 crore.

In the filing, the firm said its board on September 19 will "consider and approve raising of long term resources from domestic and/or global markets, inter alia, by 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 including determination of issue price".

It, however, did not disclose the amount the firm was looking to raise.