Rel Infra to raise Rs 550 cr from Anil Ambani group, Varde Investment

Of the total, Rs 400 crore will be invested by Anil Ambani group and the rest by Varde Partners

The Reliance Infrastructure (RInfra) board on Sunday gave its nod for raising funds up to Rs 550.56 crore from its promoter, the Anil Ambani group, and Varde Investment.

The company said it would make preferential allotment of up to 88.8 million equity shares and/or an equivalent number of warrants convertible, to the promoter group and VFSI Holdings, an affiliate of Värde Investment Partners.

Of the total, the Anil Ambani group will invest Rs 400 crore, with the rest coming from Varde. The shares will be issued at Rs 62 apiece. The company’s shares closed at Rs 69.85 apiece on Friday.

The funds raised