Reliance Infra board approves Rs 550 crore fund raising:

RELIANCE-INFRA

Reliance Infrastructure share price gained over 2 percent on June 7 after the company’s board approved a plan to raise Rs 550 crore via preferential issue.

“The Board of Directors of Reliance Infrastructure Limited at its meeting has approved raising of funds up to Rs 550.56 crore by preferential allotment of up to 8.88 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company to promoter group and VFSI Holdings Pte Limited, an affiliate of Värde Investment Partners, LP,” the statement issued by the company said.

News Source:- Moneycontrol

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