Anil Ambani makes big move, Reliance Infrastructure to raise money by…, shares gain as much as...
The company says that the meeting will consider raising long-term resources by issuing equity shares / equity linked securities, through qualified institutional placement or any other method and/or through non-convertible debentures (NCDs). That is, the company can take money from investors in many ways. The company can issue equity shares and also issue equity-linked securities. Money can also be raised through qualified institutional placement (QIP). Apart from this, non-convertible debentures (NCDs) can also be issued. Why does the company need money?
NCD is a type of loan, which cannot be converted into equity later. The company can do all this in one or more times. The board meeting will also consider whether to seek approval from shareholders or not. If there is a need to raise more money, a special meeting of shareholders can be called. Qualified Institutional Placement (QIP) means that the company will sell shares to big investors like banks and insurance companies. This shows that the company is confident about its growth.
This news has come at a time when the company is going to release its first quarter results soon. This will let investors know how the company is performing and why it needs more money. The company's share price and investor response will depend on what the terms of raising money are. If the terms are good, investors will be more attracted. Improvement in rating
Recently another good news came for the company as India Ratings and Research has raised the company's credit rating by three notches. Earlier the company's rating was 'IND D', which has now been changed to 'IND B/Stable/IND A4'. Credit rating shows how capable the company is in repaying the loan. Increasing the rating will make it easier for the company to take a loan.
Reliance Infra shares have been performing well for the last one year. During this period, the share price has increased by 97%. So far this year, this stock has jumped by about 18%. This is much more than big indexes like Nifty and Sensex. Nifty and Sensex have increased by a little more than 3% this year. In the last five years, the company's stock has climbed more than 2000%. On June 27, it reached Rs 425, which is its 52-week high.
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