Reliance Infra Secures ₹6,000 Cr Fundraising with Shareholder Approval – Mathew Cyriac, Fortune Financial Lead the Charge

Reliance Infrastructure’s plan to raise ₹6,000 crore has been approved by its shareholders. This money will be raised through two methods: the preferential issue of shares and qualified institutional placement (QIP). According to a stock exchange filing, more than 98% of shareholders voted in favor of the fundraising plan through a postal ballot.

In September, the company’s board gave the green light for this fundraising initiative. Out of the ₹6,000 crore, ₹3,014 crore will come from preferential allotment of shares or convertible warrants, while the remaining ₹3,000 crore will be raised through the QIP route.

As part of the first phase, Reliance Infrastructure plans to raise ₹3,014 crore by issuing 12.56 crore equity shares or convertible warrants at ₹240 per share. Of this amount, the company’s promoters, through their entity Risee Infinity Private Ltd, will invest ₹1,104 crore by subscribing to 4.60 crore shares.

Two other investors—Fortune Financial & Equities Services and Florintree Innovations LLP—will also be participating in the preferential issue. Fortune Financial, owned by Nimish Shah, will invest ₹1,058 crore by subscribing to 4.41 crore shares, while Florintree Innovations, owned by ex-Blackstone executive Mathew Cyriac, will invest ₹852 crore for 3.55 crore shares.

This preferential issue is expected to boost Reliance Infrastructure’s net worth from ₹9,000 crore to ₹12,000 crore, while bringing its debt to nearly zero. The funds will be used for business expansion, investment in subsidiaries, and meeting long-term working capital requirements.

By raising this capital, Reliance Infrastructure aims to strengthen its financial position and support its growth plans.