Reliance Infrastructure Ltd. informed the bourses on Wednesday of a fundraise approval worth Rs 9,000 crore via the issue of debt instruments, according to an exchange filing.
The board has approved the raise of Rs 6,000 crore through equity-linked instruments, such as qualified institutional placement, and Rs 3,000 crore on a private placement basis, clarified the filing.
The company had recently been in the limelight, with its defence arm hashing out more details about its strategic partnership on guided munition or terminally guided munition with German firm Diehl Defence.
The partnership between Reliance Defence and Diehl Defence is based on a cooperation agreement, which was signed in 2019. The agreement was on the supply of guided munitions to the Indian armed forces.
Reliance Defence will be the prime contractor for the Indian customer and Diehl Defence will be strategic partner. The overall indigenous content in the project under the 'Make in India' scheme will be more than 50%.
Shares of Reliance Infra closed 3.38% higher at Rs 400.30 apiece on the National Stock Exchange before the announcement, compared to a 0.06% advance in the benchmark Nifty. The stock has fallen 111.15% in the last 12 months and risen 24.07% on a year-to-date basis.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
