Latest news with #AnilAmbani-promoted
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Business Standard
18 hours ago
- Business
- Business Standard
MMRDA deposits Rs 560 cr in Metro arbitration case with Reliance Infra
The Mumbai Metropolitan Region Development Authority (MMRDA) has deposited Rs 560.21 crore with the registry of the Bombay High Court in an arbitration matter involving Mumbai Metro One Private Limited (MMOPL), a subsidiary of Anil Ambani-promoted Reliance Infrastructure (R-Infra). In June, the Bombay High Court had directed MMRDA to pay the arbitration award of Rs 1,169 crore to MMOPL and deposit the amount with the registry before 15 July 2025. However, MMRDA filed a special leave petition before the Supreme Court challenging the order. The apex court then directed MMRDA to deposit 50 per cent of the award amount. MMOPL had stated that the money would be used to reduce its debt. The matter dates back to August 2023, when MMOPL won an arbitration award of Rs 992 crore passed by a three-member arbitral tribunal in the arbitration between MMOPL and MMRDA for various disputes, including the cost of the project. The initial estimated cost of the project was Rs 2,356 crore, according to data from MMRDA's website. The cost later escalated to Rs 4,321 crore. MMRDA had challenged the award, initiating proceedings under Section 34 of the Arbitration and Conciliation Act, 1996, which the high court has now upheld in favour of MMOPL. MMOPL is a joint venture of R-Infra and MMRDA, with R-Infra holding a 74 per cent stake and the remainder with MMRDA. MMOPL operates Mumbai's first metro line between the Versova–Andheri–Ghatkopar corridor. The mass rapid transit system project was awarded by MMRDA through global competitive bidding on a public-private partnership (PPP) framework to a Reliance Infrastructure-led consortium in 2007. MMOPL, a special-purpose vehicle, was incorporated for the project's implementation. MMRDA is an apex body for planning and coordinating development in the Mumbai Metropolitan Region. This was the first metro project in India awarded on a PPP basis and involved the design, financing, construction, operation and maintenance of about 12 km of elevated metro with 12 stations en route. The project was financed by a consortium of banks led by Canara Bank. In November 2024, the consortium was looking to sell Rs 1,226 crore of loans through a bidding process. In the same month, state-owned National Asset Reconstruction Company Ltd (NARCL) gave an anchor bid of Rs 1,063 crore to acquire the stressed loans from the MMOPL consortium. Separately, State Bank of India (SBI) and IDBI Bank initiated insolvency proceedings against MMOPL amid non-payment of loans of Rs 416.08 crore and Rs 133 crore, respectively, in 2023. In April 2024, the Mumbai bench of the National Company Law Tribunal (NCLT) dismissed the banks' petitions after the concerned parties agreed to a one-time debt settlement.
Time of India
17-07-2025
- Business
- Time of India
Reliance Power shares in focus after board approves Rs 6,000 crore fundraising plan via QIP
Reliance Power shares will be in focus on Thursday after the company's board on Wednesday approved a fundraising plan worth Rs 6,000 crore through Qualified Institutions Placement (QIP) and other modes. The Anil Ambani-promoted company aims to raise funds by issuing equity shares or equity-linked instruments to qualified institutional buyers (QIBs). Explore courses from Top Institutes in Select a Course Category Degree Others Data Science Public Policy Leadership Healthcare Finance Cybersecurity CXO Artificial Intelligence Digital Marketing Technology Operations Management Product Management healthcare Data Analytics MCA Design Thinking Management PGDM Project Management MBA others Data Science Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: Unsold Sofas May Be at Bargain Prices (Prices May Surprise You) Sofas | Search Ads Search Now Undo The company's board also approved the issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or otherwise. The stock has been a multibagger, rallying 130% over the past year. It has significantly outperformed headline indices BSE Sensex and Nifty whose returns in the same period stand at 2.5% and 2.4%, respectively. In 2025, so far, the stock has yielded 48% return. Reliance Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 59.1 and Rs 45.3, respectively, according to Trendlyne data. However, the rally has not come without its share of volatility as the stock has traded at a high beta of 1.1. Live Events Also read | QIP March: SBI kicks off Rs 25,000 crore share sale to boost capital base Reliance Power reported a consolidated net profit of Rs 126 crore in the quarter ended March 31, 2025, due to lower expenses. The company posted a loss of Rs 397.56 crore in the quarter ended on March 31, 2024, a regulatory filing showed. Total income dipped to Rs 2,066 crore in Q4FY25 from Rs 2,193.85 crore in the same period a year ago. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Business Standard
16-07-2025
- Business
- Business Standard
Anil Ambani's Reliance Infra, Power to raise ₹9,000 cr each via QIP, NCDs
Reliance Infrastructure and subsidiary Reliance Power will raise Rs 9,000 crore each via equity and debt routes, as board approvals clear fresh capital infusion Mumbai The board of directors at Anil Ambani-promoted Reliance Infrastructure approved raising funds of Rs 9,000 crore on Wednesday. Of this, the company will raise Rs 6,000 crore through the issuance of equity shares and/or equity-linked instruments or other eligible securities to qualified institutional buyers by way of a Qualified Institutions Placement (QIP), follow-on public offer (FPO), or a combination thereof. Meanwhile, the company will issue secured or unsecured, redeemable, non-convertible debentures (NCDs) of up to Rs 3,000 crore, in one or more tranches or series, on a private placement basis or otherwise. The issue of the above securities shall be subject to requisite permissions, sanctions and approvals, and as per the applicable provisions of law. Like Reliance Infrastructure, Reliance Power will raise Rs 6,000 crore through the issuance of equity shares and/or equity-linked instruments or other eligible securities to qualified institutional buyers by way of a QIP, FPO, or a combination thereof. Reliance Power will issue secured or unsecured, redeemable, non-convertible debentures of up to Rs 3,000 crore, in one or more tranches or series, on a private placement basis or otherwise, the company informed the stock exchanges on Wednesday. Recently, Reliance Infrastructure's 'default' credit rating was removed after six years, as ratings firm India Ratings and Research (Ind-Ra) upgraded the company's credit rating on its existing non-fund-based working capital limits from 'IND D' to 'IND B / Stable'. Additionally, on Wednesday, Reliance Infrastructure's shares listed on the Bombay Stock Exchange (BSE) closed at Rs 400.35 per equity share, while those of Reliance Power closed at Rs 66.06 per equity share.
Economic Times
16-07-2025
- Business
- Economic Times
Reliance Infra board approves Rs 6,000 crore fundraising plan via QIP
Reliance Infrastructure and Reliance Power boards approved plans to raise Rs 6,000 crore each via QIP or other modes. Both firms also cleared NCD issues worth Rs 3,000 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The board of Reliance Infrastructure on Wednesday approved a Rs 6,000 crore fundraising plan through the Qualified Institutional Placement (QIP) and other modes. The Anil Ambani-promoted company plans to raise funds through the issuance of equity shares or equity linked instruments to qualified institutional buyers (QIBs).The company informed about the development via filing to the exchanges. The decision was taken in a meeting held today after market company's board also approved issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or from Reliance Infra, the board of Reliance Power also approved a Rs 6,000 crore worth fundraising plan via the QIP or follow on public offer modes. The latter's board also approved issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or of Reliance Infra have been multibagger, rallying 106% over the past one year. It has significantly outperformed headline indices BSE Sensex and Nifty whose returns in the same period stand at 2.5% and 2.4%, respectively. In 2025, so far, the stock has yielded 25%.Reliance Infrastructure shares today ended the session at Rs 400.35 on the BSE, gaining by Rs 13.05 or 3.4%.Reliance Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 349.4 and Rs 289.4, respectively according to Trendlyne data. But the rally has not come without its share of volatility as the stock has traded at a high beta of Infra reported a consolidated net profit of Rs 4,387 crore in the quarter ended March 31, 2025. The company had reported a loss of Rs 221 crore in the quarter ended on March 31, profit after tax for 2024-25 stood at Rs 4,938 crore, compared to a loss of Rs 1,609 crore in the previous financial from operations declined 12% to Rs 4,108.01 crore in the quarter to March. The company had reported Rs 4,685.96 crore in income from operations during the year-ago the full 2024-25, the company recorded consolidated operating income of Rs 23,592 crore, a 7% year-on-year increase from Rs 22,067 crore in 2023-24.
Time of India
16-07-2025
- Business
- Time of India
Reliance Infra board approves Rs 6,000 crore fundraising plan via QIP
The board of Reliance Infrastructure on Wednesday approved a Rs 6,000 crore fundraising plan through the Qualified Institutional Placement (QIP) and other modes. The Anil Ambani-promoted company plans to raise funds through the issuance of equity shares or equity linked instruments to qualified institutional buyers (QIBs). The company informed about the development via filing to the exchanges. The decision was taken in a meeting held today after market hours. Explore courses from Top Institutes in Select a Course Category CXO Product Management Management Digital Marketing Artificial Intelligence Others Operations Management Finance Data Science MCA Leadership Technology Cybersecurity Project Management PGDM Design Thinking Public Policy Data Science others Degree MBA Data Analytics Healthcare healthcare Skills you'll gain: Operations Strategy for Business Excellence Organizational Transformation Corporate Communication & Crisis Management Capstone Project Presentation Duration: 11 Months IIM Lucknow Chief Operations Officer Programme Starts on Jun 30, 2024 Get Details Skills you'll gain: Technology Strategy & Innovation Emerging Technologies & Digital Transformation Leadership in Technology Management Cybersecurity & Risk Management Duration: 24 Weeks Indian School of Business ISB Chief Technology Officer Starts on Jun 28, 2024 Get Details Skills you'll gain: Digital Strategy Development Expertise Emerging Technologies & Digital Trends Data-driven Decision Making Leadership in the Digital Age Duration: 40 Weeks Indian School of Business ISB Chief Digital Officer Starts on Jun 30, 2024 Get Details Skills you'll gain: Customer-Centricity & Brand Strategy Product Marketing, Distribution, & Analytics Digital Strategies & Innovation Skills Leadership Insights & AI Integration Expertise Duration: 10 Months IIM Kozhikode IIMK Chief Marketing and Growth Officer Starts on Apr 7, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gold Is Surging in 2025 — Smart Traders Are Already In IC Markets Learn More Undo The company's board also approved issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or otherwise. Apart from Reliance Infra, the board of Reliance Power also approved a Rs 6,000 crore worth fundraising plan via the QIP or follow on public offer modes. The latter's board also approved issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or otherwise. Shares of Reliance Infra have been multibagger, rallying 106% over the past one year. It has significantly outperformed headline indices BSE Sensex and Nifty whose returns in the same period stand at 2.5% and 2.4%, respectively. In 2025, so far, the stock has yielded 25%. Live Events Reliance Infrastructure shares today ended the session at Rs 400.35 on the BSE, gaining by Rs 13.05 or 3.4%. Reliance Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 349.4 and Rs 289.4, respectively according to Trendlyne data. But the rally has not come without its share of volatility as the stock has traded at a high beta of 1.6. Reliance Infra reported a consolidated net profit of Rs 4,387 crore in the quarter ended March 31, 2025. The company had reported a loss of Rs 221 crore in the quarter ended on March 31, 2024. Consolidated profit after tax for 2024-25 stood at Rs 4,938 crore, compared to a loss of Rs 1,609 crore in the previous financial year. Income from operations declined 12% to Rs 4,108.01 crore in the quarter to March. The company had reported Rs 4,685.96 crore in income from operations during the year-ago period. For the full 2024-25, the company recorded consolidated operating income of Rs 23,592 crore, a 7% year-on-year increase from Rs 22,067 crore in 2023-24.
