Reliance Infra and Power have announced that they are going to be net debt-free soon
In the last couple of weeks, the group's only remaining functional companies -- Reliance Infra and Reliance Power have announced that they are going to be net debtfree and that these companies are on a solid financial footing.
Both RInfra and RPower have announced a cumulative fund raising plan of ₹7,500 crore.
The speed at which Anil moved to clear debt, and simultaneously announce new fundraising plans, have surprised investors and shares of the firms surged, with RInfra's market cap rising 50% to 12,500 crore and of RPower's by 25% to 14,600 crore in one month.
Of the 6,000 crore fund infusion into Reliance Infra, ₹1,200 crore will come from Anil himself and 1,800 crore from fund managers including former Blackstone executive and fund manager Mathew Cyriac's Florintree Innovation and the rest ₹3,000 crore from qualified institutional buyers. If fructified, post-issue Florintree will become the second-largest shareholder in RInfra.
Denne historien er fra September 29, 2024-utgaven av The Morning Standard.
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Denne historien er fra September 29, 2024-utgaven av The Morning Standard.
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'I DO HAVE AN AUDIENCE IN MIND-ME'
With his new film Despatch, which had its India premiere at MAMI Mumbai Film Festival this year and is streaming soon on ZEE5, Kanu Behl decides to steer clear of genre tropes.
Weaving green dreams
Mandeep Nagi's journey embodies the idea that our roots can shape lifelong passions
WINTER COMES KNOCKING AT THE NCR MARKETS
With Diwali being close to a weekend this year, most of us took advantage of the surprise long weekend with festivities prolonging just a little more than usual.
'GOLDEN AGE FOR U.S.'
\"This was a movement like nobody's ever seen before, and frankly, this was, I believe, the greatest political movement of all time,\" says Donald Trump
INDIA'S BENCH STRENGTH IN CHESS
INSIDE the cavernous playing hall at the Anna Centenary Library, Levon Aronian has just gone for a walk. Facing Arjun Erigaisi, the US GM, one of the best ever the world has seen in the game, has disappeared, perhaps to help himself to a beverage.
Ramayana to be in two parts, release dates out
The release date of Nitesh Tiwari's upcoming mythological epic Ramayana, starring Ranbir Kapoor as Lord Rama and Sai Pallavi as Sita, is out.
Holders Madrid & Man City stunned, statement victory for Liverpool
VIKTOR Gyokeres scored a hat-trick as Ruben Amorim's Sporting Lisbon stunned Manchester City with a 4-1 win in the Champions League on Tuesday, while Liverpool trounced Xabi Alonso's Bayer Leverkusen and AC Milan beat holders Real Madrid in Spain.
Not yet informed of host city/region for 2036 Oly: IOC
INDIA is yet to decide on a host city or region for the 2036 Olympics (bid).
Dhull scores another ton for Delhi
YASH Dhull continued his good form with a second century of the season, but left-arm spinner Nishunk Birla's six-wicket haul helped Chandigarh bowl out Delhi for a below-par 276 on the opening day of their Ranji Trophy match in Chandigarh.
Rahul's form under focus as India A face Aus A
KL Rahul's batting number and current form will be keenly watched by the national selection committee as he gets ready to match his wares for India A against an Australia A line-up in the second unofficial Test match at the Melbourne Cricket Ground starting Thursday.
