The Board of Administrators of Reliance Infrastructure Ltd. on Tuesday authorized a proposal to boost as much as $350 million (₹2,930 crore) by issuing unsecured international foreign money convertible Bonds (FCCBs) to VFSI Holdings Pte. Ltd. The FCCBs shall be convertible into fairness shares at ₹330 per share. The corporate mentioned in a regulatory submitting that the FCCBs shall be unsecured and can have an ultra-low value coupon of 5% annum with a protracted maturity of 10 years.
The fund-raising approval is along with the ₹3,000 crore fund elevate introduced on September 19, 2024 by way of preferential situation. The board additionally authorized an workers inventory possibility scheme (ESOS) for all workers of the corporate and its subsidiaries. The ESOS supplies for grant of as much as 2,60,00,000 totally paid-up fairness shares of ₹10 every, representing roughly 5% of the corporate’s totally diluted capital.
“The ESOS will unlock the worker incomes potential, in alignment to the corporate’s efficiency and development,” the corporate mentioned within the submitting.
Revealed – October 01, 2024 08:03 pm IST
