The troubles of Anil Ambani, one of the biggest businessmen of the country, seem to be reducing. Anil Ambani’s two companies Reliance Power and Reliance Infra are playing an important role in ending his bad days. On one hand, the shares of Reliance Power are showing an upper circuit for 3 consecutive days. On the other hand, money has started raining on Reliance Infrastructure. Anil Ambani’s flagship company Reliance Infrastructure Limited is going to get an investment of Rs 1,100 crore from the promoters and Rs 1,910 crore from two investment companies of Mumbai.
Rise in the shares of companies
On one hand, investors have started showing trust in Anil Ambani’s company. On the other hand, a strong rise is being seen in the shares of both these companies. Anil Ambani’s company Reliance Power is registering a rise of 5 percent for three consecutive days. This share is showing an upper circuit for 3 consecutive days. Shares of Anil Ambani’s other company Reliance Infrastructure also registered a strong rise of 12 percent today. With this rise, the share of Reliance Infrastructure reached a 52-week high today.
The company approved Rs 6000 crore
The board of directors of the company approved a plan to raise funds of Rs 6,000 crore. Out of this, Rs 3,014 crore will be raised by preferential allotment of shares and Rs 3,000 crore by issuing shares to institutional buyers. According to the company’s postal ballot seeking shareholders’ approval for issuing shares, in the first phase, the company is starting a preferential placement of Rs 3,014 crore, under which 12.56 crore shares or convertible warrants will be issued at an issue price of Rs 240 per share. Out of this, Rs 1,104 crore will be invested through Reliance Infrastructure’s promoter company Riji Infinity Private Limited. Two other investors participating in this preferential placement are Mumbai-based Fortune Financial & Equities Services and Florintree Innovations LLP. ( PLC & GT )
