Latest News | Reliance Infra to Raise Rs 750 Cr

New Delhi, Sep 25 (PTI) Reliance Infrastructure on Saturday said its board has approved raising up to Rs 750 crore by issuing foreign currency convertible bonds (FCCBs) on a private placement basis.

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Reliance Infrastructure in a BSE filing also said that Sandeep Khosla has been appointed as Chief Financial Officer (CFO) of the company.

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"We hereby inform you that the Board of Directors of the Company has authorised the issue of up to USD 100,000,000 unsecured foreign currency convertible bonds maturing in 2031 (FCCBs) with a coupon rate of 4.5 per cent on private placement basis.

"The FCCBs shall be convertible into equity shares of Rs.10.00 each of the Company in accordance with the terms of the FCCBs, at a price of Rs 111 (including a premium of Rs 101) per equity share," it said.

The company will issue bonds within 30 days from the Issue closing date and the decision was taken by the board in a meeting on Saturday.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)