Reliance Infrastructure Limited to issue FCCBs for $400 Mn

The Board of Directors of Reliance Infrastructure Limited has authorised the issue of upto U.S.$ 400,000,000 5% unsecured Foreign Currency Convertible Bonds (FCCBs) on private placement basis. The FCCBs shall be convertible into equity shares of Rs.10 each of the Company in accordance with the terms of the FCCBs, at a price of Rs. 123 (including a premium of Rs.113) per equity share.

FCCBs will be convertible into approximately 25,84,39,024 equity shares of Rs.10.00 each of the Company at the conversion price of Rs. 123 (including a premium of Rs. 113) per equity share.

The above conversion price is 5.60% more than the floor price of Rs. 116.48 calculated as average of the weekly high and low of the closing prices during the two weeks preceding the relevant date i.e. August 5, 2022.

Shares of Reliance Infrastructure Limited was last trading in BSE at Rs. 121.35 as compared to the previous close of Rs. 125.15. The total number of shares traded during the day was 618679 in over 6084 trades.

The stock hit an intraday high of Rs. 126.60 and intraday low of 116.80. The net turnover during the day was Rs. 74933921.00.

Source : Equity Bulls

Keywords

RelianceInfrastructure INE036A01016 RELINFRA FundRaising FCCBs PrivatePlacement