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.