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R-Infra to get Rs 7,100 cr from DMRC post-SC ruling; defence manufacturing new engine of growth: Anil Ambani
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Japan s Sumitomo to buy Fullerton India for Rs 19k cr
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Anil Ambani-led group s market cap zooms 1,000% in over two months
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The move comes days after Reliance Jio Infocomm (Jio), the designated buyer of Infratel’s assets, had moved the bankruptcy court to seek forensic audit reports that had marked the accounts of Infratel and RCom as “fraudulent”.
According to people in the know, the rushed affidavit was filed over fears that Jio may back out of its plan to buy Infratel for about Rs 4,000 crore due to the label, dealing a blow to lenders’ efforts to recover some of their money. SBI didn’t respond to queries.
“The bank feels that the fraud tag on Reliance Infratel could delay the resolution process and the quantum of recovery could fall further,” said a bank executive aware of the matter.
Reliance Power board to mull fundraising via equity issue on June 13
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Shares of Reliance Power closed at Rs 11.57 on BSE on Wednesday, up 5% from their previous close.
ET Bureau
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Reliance Power did not disclose the amount that it plans to raise.
“A meeting of the board of directors of the company will be held on Sunday, June 13, 2021 to consider and approve raising of long term resources from domestic and/or global markets, inter alia, by issue of equity shares/ equity linked securities/ warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method including determination of issue price, if any and seeking members and other approval(s), as the board may deem appropriate,” the company informed bourses on Wednesday.