Reliance Infrastructure shareholders have given the green signal to the company's plan to raise ₹6,000 crore through a preferential issue and qualified institutional placement (QIP). The resolution received overwhelming support, with more than 98 per cent votes cast in favour during the postal ballot. The company's board had approved the fund raising plan on September 19.

Out of the total Rs 6,000 crore, Rs 3,014 crore will be raised through preferential allotment of shares or convertible warrants while Rs 3,000 crore will be raised through QIP.

Preferential issue of Rs 3,014 crore In the first phase, the company will launch a preferential issue of Rs 3,014 crore, in which 12.56 crore equity shares or convertible warrants will be offered at Rs 240 per share. Promoters through Rizee Infinity Private Limited will invest Rs 1,104 crore by subscribing to 4.60 crore shares. Additionally, Mumbai-based Fortune Financial and Equities Services and Florintree Innovations LLP, owned by former Blackstone executive Matthew Cyriac, will invest Rs 1,058 crore and Rs 852 crore, jointly receiving 7.96 crore shares. Net worth will increase to Rs 12,000 crore This preferential issue is expected to increase the net worth of Reliance Infrastructure from Rs 9,000 crore to Rs 12,000 crore, which will significantly reduce its debt. The proceeds from this will be used to expand business operations, including investments in subsidiaries and joint ventures, as well as meet long-term working capital requirements.