| Four Reliance Group firms to raise Rs150b |
NEW DELHI Anil Ambani-led Reliance Group plans to seek shareholders’ nod to raise funds, estimated at about Rs150 billion at current valuations, through equity dilution of up to 25 per cent in four of its companies.
The companies include Reliance Communications, Reliance Power, Reliance Infrastructure and Reliance Capital and the shareholders’ approval to enabling provisions for raising funds from institutional investors would be sought at the annual general meetings (AGMs) of these firms next month.
All four companies will hold their AGMs on September 4, where shareholders’ nod would be sought on these matters, among other issues, but approvals have been taken for such enabling provisions in the past as well without any actual equity dilution having taken place.
Agencies
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