Reliance Infrastructure Limited Board approves raising of funds through QIP

The Board of Directors of Reliance Infrastructure Limited at its meeting held today i.e. March 16, 2017 has approved the raising of funds by issue of securities through Qualified Institutional Placement (QIP) to Qualified Institutional Buyers for an aggregate sum not exceeding Rs. 2000 crores.

The funds raised from the QIP would be utilized for capitalizing on business opportunities in the defence sector, for reduction of debt and for general corporate purposes.

Shares of RELIANCE INFRASTRUCTURE LTD. was last trading in BSE at Rs.594.25 as compared to the previous close of Rs. 575.9. The total number of shares traded during the day was 800252 in over 11047 trades.

The stock hit an intraday high of Rs. 598 and intraday low of 578. The net turnover during the day was Rs. 471476853.

Source : Equity Bulls

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