Reliance Infra to raise \u20b9550 crore from

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Anil Ambani\u2019s Reliance Infrastructure Ltd (RInfra) on Sunday said that its board has approved raising a sum of \u20b9550.56 crore by preferential allotment of up to 88.8 million shares and/or warrants convertible into shares of the corporate to promoter group and VFSI Holdings Pte. Ltd, an affiliate of Värde Investment Partners LP.

The funds raised would be utilized for long-term resources, for general corporate purposes, and to fund growth also on reduce debt, the corporate said during a statement.

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