98% of Reliance Infrastructure shareholders approve a ₹6,000 crore fundraising plan for debt reduction and business expansion.

Reliance Infrastructure's shareholders have approved a ₹6,000 crore fundraising plan, with over 98% voting in favor. The funds will be raised through a preferential share issue and a Qualified Institutional Placement (QIP). The initiative aims to boost the company's net worth from ₹9,000 crore to ₹12,000 crore, reduce debt, and support business expansion. Notably, the plan includes significant investments from major stakeholders, enhancing governance with the appointment of an independent director.

October 20, 2024
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