Two companies owned by Anil Ambani's Reliance are going to enter the field with a new strategy to make a comeback. PTI has quoted company officials as saying that Reliance Infrastructure and Reliance Power, part of the Reliance Group, are ready to double down on new growth strategies after raising Rs 17,600 crore in funds and achieving zero-debt status. In the past weeks, the companies have raised Rs 4,500 crore through preferential equity shares and an additional Rs 7,100 crore from global investment fund Varde Partners. This investment has come in the form of equity-linked foreign currency convertible bonds (FCCBs), with a maturity period of 10 years and an interest rate of 5 percent.

Plan to raise Rs 6,000 crore

According to reports, both the companies plan to raise Rs 6,000 crore through QIP, with each aiming to raise Rs 3,000 crore. A group official said that this strategy will provide the necessary growth capital. Reliance Group's strategy of raising capital through equity or equity-linked long-term bonds will provide the group companies with the necessary growth capital for their expansion plans. This move will potentially enable a total investment outlay of Rs 50,000 crore for future business plans. Both the companies aim to increase their net worth to around Rs 25,000 crore. How will the funds be raised? In this fund raising, Rs 4,500 crore will be raised through preferential equity shares, out of which Rs 1,750 crore will be raised by the promoters and Rs 3,750 crore will be raised by four major investors Fortune Financial and Equities Services, Florintree Innovation LLP, Authum Investment and Infrastructure and Sanatan Financial Advisory. Varde Partners' investment of Rs 7,100 crore in FCCBs is also an important part of their funding strategy. According to a PTI report, the equity-linked FCCB has a maturity period of 10 years and the interest rate is 5 percent.