The Board of Directors of Reliance Infrastructure Limited (Reliance Infrastructure) on Tuesday approved raising of funds upto US$ 350 million (INR 2,930 cr) to VFSI Holdings Pte. Limited, an affiliate of Värde Investment Partners, LP, a leading global alternative investment firm. The FCCBs will be unsecured and will have ultra-low cost coupon of 5% p.a. with a long maturity of 10 years. The FCCBs will be convertible into Equity Shares at INR 330 per share.
The Board of Directors also approved an Employees Stock Option Scheme (ESOS) for all employees of the Company and its subsidiaries. ESOS provides for grant of upto 2,60,00,000 fully paid-up equity shares of INR 10 each, representing approximately 5% of the Company’s fully diluted capital.
