Reliance Infrastructure touches roof on getting nod to raise Rs 750 crore
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Reliance Infrastructure is locked its upper circuit limit at Rs. 110.55, up by 5.25 points or 4.99% from its previous closing of Rs. 105.30 on the BSE.
The scrip opened at Rs. 109.75 and has touched a high and low of Rs. 110.55 and Rs. 106.00 respectively. So far 270220 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 109.00 on 21-Jun-2021 and a 52 week low of Rs. 19.20 on 12-Nov-2020.
Last one week high and low of the scrip stood at Rs. 107.00 and Rs. 91.50 respectively. The current market cap of the company is Rs. 2907.35 crore.
The promoters holding in the company stood at 4.98%, while Institutions and Non-Institutions held 7.23% and 87.79% respectively.
Reliance Infrastructure’s board has approved raising up to Rs 750 crore by issuing up to $100,000,000 unsecured foreign currency convertible bonds maturing in 2031 (FCCBs) with a coupon rate of 4.5 per cent on private placement basis. The FCCBs shall be convertible into equity shares of Rs.10.00 each of the Company in accordance with the terms of the FCCBs, at a price of Rs 111 (including a premium of Rs 101) per equity share. The company will issue bonds within 30 days from the Issue closing date and the decision was taken by the board in a meeting on September 25, 2021.
Reliance Infrastructure is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors within the infrastructure space such as Power, Roads, Metro Rail and Defence.
