Suspense Crime Sach Ka Dam
Anil Ambanis Company: Reliance Group companies led by industrialist Anil Ambani – Reliance Infrastructure Limited and Reliance Power Limited are set to raise Rs 17,600 crore and execute their growth strategies with zero debt position. Both companies have announced raising Rs 4,500 crore through the preferential issue of equity shares and Rs 7,100 crore through equity linked long-term FCCB from renowned global investment firm Varde Partners in the last two weeks. Their maturity period is 10 years and the interest rate is five percent.
Will raise Rs 6000 crore from QIP
An additional Rs 6,000 crore will be raised through qualified institutional placement (QIP). Of this, Reliance Power and Reliance Infrastructure aim to raise Rs 3,000 crore each. Officials said the resolution, along with shareholders’ approval, is expected by the end of the month.
Investment scope of Rs 50,000 crore
A senior group official said that Reliance Group’s strategy of raising capital through equity or equity-linked long-term bonds will provide the group companies with the necessary growth capital for their expansion plans. Despite a debt-to-equity ratio of just 70:30, raising Rs 17,000 crore through equity or equity-linked bonds will give the group companies a scope to invest Rs 50,000 crore for their business plans over the next few years. After this financing, the net worth of both companies will be around Rs 25,000 crore.
