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Reliance Infra board to consider fresh fund-raise on June 6

Anil Ambani-backed Reliance Infrastructure has scheduled a board meeting on June 6 to consider raising additional funds.

This can be through equity shares or by way of preferential issue, qualified institutional placement, rights issue or any other method. The board will also determine the issue price, if any.

Reliance Infrastructure has an EPC order book of over ₹25,000 crore, power distribution business in Delhi serving 45 lakh customer and a defence manufacturing business. Infusion of fresh liquidity will enhance the company’s financial flexibility and liquidity and enable it to become a zero debt company by March 2022.

Reliance Infrastructure Ltd has reported narrowing of consolidated net loss at ₹46.53 crore for the quarter that ended on March 31, 2021. The company had reported a consolidated net loss of ₹153.84 crore in the year-ago period. The Hindu BusinessLine

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