Reliance Group Fundraise Highlights Anil Ambani's Economic Comeback Plan
Sunday, 6 October 2024, 09:17
Reliance Group Fundraise Overview
Reliance Infrastructure and Reliance Power, part of Anil Ambani’s Reliance Group, have recently secured Rs 17,600 crore in fundraising as they pursue a debt-free status. This ambitious plan aims to stimulate growth under a renewed financial strategy.
Financial Highlights
- Fresh Fundraise: The companies raised Rs 4,500 crore through preferential equity shares.
- Varde Partners invested Rs 7,100 crore through equity-linked foreign currency convertible bonds (FCCBs), featuring a 10-year maturity and a low interest rate of 5%.
- Plans for additional Rs 6,000 crore through qualified institutional placement (QIP).
Strategic Goals
- Targeting a total investment outlay of Rs 50,000 crore for future expansion.
- Aims to elevate net worth to approximately Rs 25,000 crore.
- Emphasis on long-term growth capital through equity and equity-linked bonds.
This fundraising initiative is poised to revitalize Anil Ambani’s ventures in the infrastructure sector, bolstering hopes for a business resurgence.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.