|
Sunday May 24, 11:40 AM
|
|
Reliance Infrastructure board to consider fund raising
MUMBAI (Reuters) - India's Reliance Infrastructure Ltd board will meet on Sunday to consider issuing up to 43 million preferential shares to its founders and other investors to raise funds, the company said late on Friday.
The allotment will be against an equal number of warrants issued to one of its founder firms earlier this year, which are convertible into equity shares by July 19 at 1,822 rupees each.
Reliance Infrastructure, part of India's Anil Dhirubhai Ambani group, is a power utility and also has interests in engineering and construction.
