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Reliance Infra Share Price Soars 12.37% to 52-Week High; Fundraising Sparks Excitement

Reliance Infra shares rose 12.37% to ₹320 after announcing a ₹3,014 crore preferential issue. This move aims to expand operations and enhance the company's net worth significantly.
Reliance Infra Share Price Soars 12.37% to 52-Week High; Fundraising Sparks Excitement

Reliance Infra shares surged by 12.37% to reach a 52-week high of ₹320 on the BSE on September 20. This increase followed the company’s announcement that its board approved a ₹3,014 crore fundraising through a preferential issue of up to 12.56 crore equity shares.

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In a regulatory filing, Reliance Infra stated that the preferential issue would be directed to Risee Infinity, a promoter group company, along with investors Florintree Innovation LLP and Fortune Financial & Equities Services. This move will increase the equity stake of the promoters.

The board also sought shareholder approval for raising up to ₹3,000 crore via a qualified institutional placement. The proceeds from the preferential issue are intended for expanding business operations, investing in subsidiaries and joint ventures, and meeting long-term working capital needs.

With this capital injection, Reliance Infra’s net worth is expected to rise from over ₹9,000 crore to more than ₹12,000 crore. The company currently boasts near-zero debt, positioning it well for future growth.

Reliance Infrastructure, part of the Reliance Group led by Anil Ambani, has been operational since 1929, providing engineering and construction services in power, roads, and metro rail, as well as managing defense and infrastructure projects.

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