Anil Ambani-led Reliance Infrastructure Limited on Wednesday announced the allotment of 1.25 crore fully paid-up equity shares for Rs 240 per share, aggregating to Rs 300 crore. This included a premium of Rs 230 per share. The allotment is part of an accelerated conversion of warrants issued earlier.
In a regulatory filing, the company said, “Reliance Infrastructure Limited has allotted 1.25 crore fully paid-up equity shares at a price of Rs 240 per share (including a premium of Rs 230 per share), aggregating Rs 300 crore, upon accelerated conversion of Warrants.”
The shares were issued upon the exercise of warrants, with the balance 75 per cent of the issue price now paid. The capital infusion is part of a preferential issue announced in October 2024.
“The Company made a Preferential Issue of 12.56 crore warrants aggregating Rs 3,014.40 crore in October 2024, in terms of SEBI (ICDR) Regulations. A minimum upfront amount of 25 per cent was paid on the Warrants and the balance 75 per cent amount was payable in 18 months. Fully paid Warrants are convertible into equivalent number of equity shares,” it informed the exchanges.
Upon accelerated conversion of Warrants, Reliance Infra said, the company has issued 1.25 crore equity shares to Risee Infinity Private Limited (Promoter Group Entity).
This capital infusion is expected to strengthen the company’s growth trajectory. The company said the fresh funds will support in enhancing financial flexibility and support sustainable growth, positioning it to capitalize on future opportunities and drive long-term value creation.
Shares of Reliance Infra were up 2.12 per cent at 1:22 pm today at a trading price of Rs 375.50.
Earlier in May, Reliance Infrastructure had announced that it has reduced its standalone net debt to zero from banks and financial institutions. The development had led to the Anil Ambani-led company to significantly reduce approximately Rs 3,300 crore during FY25.
The company has recorded consolidated profit at Rs 4,387 crore in Q4FY25 in comparison to a loss of Rs 3,298 crore recorded during the third quarter of FY25. Its adjusted EBITDA went up by around 681 per cent to Rs 8,876 crore as against Rs 1,136 crore during the previous quarter of the same fiscal year.