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Business News/ Companies / News/  Reliance Infrastructure to seek shareholder nod to raise funds
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Reliance Infrastructure to seek shareholder nod to raise funds

The firm will raise the funds through private placements of non-convertible debentures and issue of securities to qualified institutional buyers

Reliance Infrastructure is developing several infrastructure projects through various special purpose vehicles (SPVs) in sectors such as roads, metro rail and cement.Premium
Reliance Infrastructure is developing several infrastructure projects through various special purpose vehicles (SPVs) in sectors such as roads, metro rail and cement.

Mumbai: Reliance Infrastructure Ltd (R-Infra), a part of Anil Ambani’s Reliance Group, will seek shareholders’ approval to raise funds through private placements of non-convertible debentures and issue of securities to qualified institutional buyers (QIBs), the company said in a filing to the BSE on Thursday.

The company will raise the funds through these routes in one or more tranches, the filing said.

In February, Mint had reported that R-Infra will raise 2,725 crore through a combination of sale of non-convertible debentures and long-term loans using the receivables from its Mumbai electricity business as collateral, a first of its kind fund raising in India.

R-Infra is developing several infrastructure projects through various special purpose vehicles (SPVs) in sectors such as roads, metro rail and cement. It is also involved in power generation, transmission, distribution and trading.​

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ABOUT THE AUTHOR
Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
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Published: 21 Aug 2014, 05:42 PM IST
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