Reliance Infra to raise $100 m via FCCB

Anil Ambani-led Reliance Infrastructure plans to raise $100 million through issue of foreign currency convertible bonds on private placement maturing in 2031. The issue will have a coupon of 4.5 per cent. The FCCBs will be convertible into equity shares of ₹10 each of the company in accordance with the terms of the FCCBs at a price of ₹111 (including a premium of ₹101) per equity share, said the company. In July, the company raised ₹551 crore through preferential allotment of up to 8.88 crore equity shares and convertible warrants to promoters and VFSI Holdings Pte, an affiliate of Varde Investment Partners, LP. Meanwhile, the company has appointed Sandeep Khosla as Chief Financial Officer as the current CFO Pinkesh Shah is being moved to a new assignment as President, Bangladesh Project in Reliance Power. Khosla, who is a Chartered Accountant, has 20 years of experience, said the company.

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