Reliance Power gets shareholders nod to issue of shares, warrants worth ₹1,325 cr to RInfra thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Utilties stocks were trading with gains, with the S&P BSE Utilities index rising 21.73 points or 0.88% at 2483.77 at 09:50 IST. Among the components of the S&P BSE Utilities index, NTPC Ltd (up 3.01%), GAIL (India) Ltd (up 2.76%),BF Utilities Ltd (up 1.49%),CESC Ltd (up 1.37%),SJVN Ltd (up 1.04%), were the top gainers. Among the other gainers were Gujarat Industries Power Co Ltd (up 0.98%), Tata Power Company Ltd (up 0.97%), Power Grid Corporation of India Ltd (up 0.83%), GE T&D India Ltd (up 0.63%), and NHPC Ltd (up 0.58%). On the other hand, Rattanindia Power Ltd (down 3.68%), Jaiprakash Power Ventures Ltd (down 3.47%), and Reliance Infrastructure Ltd (down 3.47%) moved lower.
Utilties shares edge higher business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Reliance Infra gets shareholders nod to raise up to Rs 550.56 cr via preferential allotment
NEW DELHI, July 7: Reliance Infrastructure Ltd on Wednesday said its shareholders have approved raising funds up to Rs 550.56 crore through issuance of shares on a preferential basis.
The funds raised would be utilised for long-term resources, for general corporate purposes and to fund future growth, the company said in a regulatory filing.
“The shareholders of Reliance Infrastructure… through postal ballot, have approved with overwhelming majority, the raising of funds up to Rs 550.56 crore by preferential allotment,” the filing said.
The funds will be raised through preferential allotment of up to 8.88 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company to promoters and VFSI Holdings Pte Ltd, an affiliate of Värde Investment Partners, LP, the filing added.
Utilties stocks were trading in green, with the S&P BSE Utilities index increasing 29.72 points or 1.22% at 2470.62 at 09:49 IST. Among the components of the S&P BSE Utilities index, Nava Bharat Ventures Ltd (up 5.41%), Reliance Infrastructure Ltd (up 4.99%),Reliance Power Ltd (up 4.98%),JSW Energy Ltd (up 4.54%),Indraprastha Gas Ltd (up 3.65%), were the top gainers. Among the other gainers were Adani Transmission Ltd (up 3.32%), NLC India Ltd (up 3.14%), Jaiprakash Power Ventures Ltd (up 2.95%), Gujarat Industries Power Co Ltd (up 2%), and Tata Power Company Ltd (up 1.66%). On the other hand, Rattanindia Power Ltd (down 5%), NHPC Ltd (down 0.19%), and Torrent Power Ltd (down 0.17%) turned lower.