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Reliance Infra raises Rs 550 56 cr through preferential allotment of securities

Reliance Infra raises Rs 550.56 cr through preferential allotment of securities Reliance Infrastructure is developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and the defence sector The funds would be utilised for long-term resources for general corporate purposes (Source: PTI) PTI Updated Jul 20, 2021, 8:08 AM IST Reliance Infrastructure Ltd on Monday said it has raised Rs 550.56 crore through issuance of securities on preferential basis. Post allotment, the holding of the promoter group in Reliance Infra would increase to 22.06 per cent upon full conversion of warrants, the company said in a statement.

Utilties shares gain

Utilties stocks were trading in the positive zone, with the S&P BSE Utilities index rising 11.81 points or 0.48% at 2493.74 at 09:50 IST. Among the components of the S&P BSE Utilities index, Gujarat Industries Power Co Ltd (up 5.94%), BF Utilities Ltd (up 3.69%),Rattanindia Power Ltd (up 3.28%),Tata Power Company Ltd (up 3.18%),Adani Power Ltd (up 1.43%), were the top gainers. Among the other gainers were JSW Energy Ltd (up 1.19%), Nava Bharat Ventures Ltd (up 0.95%), Indian Energy Exchange Ltd (up 0.88%), NLC India Ltd (up 0.83%), and NTPC Ltd (up 0.76%). On the other hand, Reliance Infrastructure Ltd (down 2.12%), Reliance Power Ltd (down 1.54%), and Jaiprakash Power Ventures Ltd (down 1.53%) moved lower.

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