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Reliance Infrastructure board okays R2,000-cr fund-raising through QIP

Reliance Infrastructure board okays R2,000-cr fund-raising through QIP

Friday, March 17, 2017, 8:26 AM

The board of directors of Reliance Infrastructure on Thursday approved a proposal to raise R2,000 crore through a qualified institutional placement. The company will now seek the approval of shareholders for the QIP through a postal ballot. In an exchange filing, the company said the amount raised through QIP will be used for debt reduction and to utilize business opportunities in the defence sector.
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