Private Equity Fund Investments
Reliance Infra to raise Rs.150-Cr from Varde Partners
Mumbai-based, publicly-listed Reliance Infrastructure Ltd ( RInfra) is to raise INR 150 crore through a preferential allotment to VFSI Holdings Pte Ltd, an affiliate of Varde Partners. The promoter group (ADA Group led by Anil Ambani via its unit Risee Infinity Pvt Ltd) will invest INR 400 crore. RInfra will issue a total of 8.88 crore equity shares/convertible warrants at INR 62 apiece. (Shares of Reliance Infra last closed at INR 69.85 apiece on the BSE.) The funds will be used as long-term resources to fund growth and also to reduce debt. Post this fundraise, the promoter group will own 23% of RInfra while Varde will own 7%. About 70% will be with the public.
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