Other Deals - Listed Firms
R-Power to raise Rs.1,525-Cr from R-Infra, Authum Investment, Sanatan Financial
Mumbai-based Reliance Infrastructure is to invest over INR 600 crore in its fellow publicly listed Anil Ambani group firm, Reliance Power . Other investors who will participate in the INR 1,524.60 crore preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. R-Power will issue up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares at a price of INR 33 apiece.The fresh funds would be utilised for expansion of business operations, debt reduction and for general corporate purposes. The preferential issue will enhance the company's net worth from about INR 11,155 crore to over INR 12,680 crore
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