Consequent to approval from members, through postal ballot, Reliance Infrastructure Ltd (Reliance Infra) On Monday allotted 8.88 crore warrants convertible into equivalent number of equity shares of the company to Risee Infinity Private Ltd, a promoter group company and VFSI Holdings Pte Ltd, an affiliate of Varde Investment Partners, LP.
Post allotment, the holding of promoter group in Reliance Infra would increase to 22.06 per cent upon full conversion of warrants.
ALSO READ | Asset quality fears, global cues pull equities lower, banking stocks sink
Reliance Infrastructure Ltd (RInfra) is one of the largest infrastructure companies, 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.
It is a major player in providing engineering and construction (E&C) services for developing power, infrastructure, metro and road projects. RInfra, through its SPVs, has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis, and nine road projects on build, operate and transfer (BOT) basis. RInfra is also a leading utility company having presence in power distribution business in Delhi.
