Reliance Infrastructure Limited has announced that its board will meet on September 19, 2024, to review a potential preferential share issuance aimed at raising new capital. The company disclosed this plan in a regulatory filing on Monday, but did not specify the amount to be raised.

The meeting will focus on various methods to raise long-term resources, including issuing equity shares, equity-linked securities, or warrants convertible into equity, the infrastructure arm of the country’s most valued conglomerate, Reliance Industries, added.

Options under consideration include a preferential issue, qualified institutional placement (QIP), rights issue, or other methods. The issue price will be determined at a later stage.

This move follows Reliance Infrastructure’s previous fundraising effort in July 2021, when the company raised ₹550 crore through a similar preferential issuance. At that time, promoters invested ₹400 crore, and Värde Capital Partners contributed ₹150 crore.

On Monday, Reliance Infrastructure’s shares closed at ₹215.75, up 1.51% from the previous day.

The company’s trading window will be closed from September 16, 2024, until 48 hours after the board meeting, in compliance with insider trading regulations.

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