Värde Partners, promoter group invest in Reliance Infrastructure
Anil Ambani | Photo Credit: Reuters

Anil Ambani-led Reliance Infrastructure Ltd said it has raised Rs 550.56 crore ($73.7 million) from promoter group and Värde Partners via preferential allotment.

It would use the funds for long term resources and growth.  

The company has been developing projects through special purpose vehicles (SPVs) in several sectors such as power and roads.

Reliance Infrastructure has executed metro rail projects in Mumbai on a build, own, operate and transfer (BOOT) basis and nine road projects on a build, own and operate (BOT) basis. It also has a presence in the power distribution business in Delhi.  

Reliance Infrastructure also said that it would raise funds by issuing foreign currency convertible bonds up to 24% of the fully diluted equity share capital of the company.  

Founded in 1993, Värde Partners has invested more than $68 billion since its inception and manages over $14 billion on behalf of a global investor base.  

It invests across corporate and traded credit, real estate and mortgages, private equity and direct lending. It has more than 300 professionals across 13 offices worldwide.

Shares of Reliance Infrastructure closed 14.16% lower at Rs 78.35 apiece on the NSE.

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