There has been a rapid rise in the shares of companies owned by Anil Ambani. Shares of Anil Ambani’s company Reliance Infrastructure closed at Rs 185.65 on Monday with a rise of more than 10 percent. Shares of Reliance Infrastructure reached Rs 192.15 during the day’s trading. Reliance Velocity Limited, a subsidiary of Reliance Infrastructure, has formed a new company Reliance EV Private Limited (REVPL). The company has said that it has received the Certificate of Incorporation from the Ministry of Corporate Affairs. Reliance EV Private Limited has been formed for automobiles and related activities.
Raising Rs 3000 crore to repay loan and new business
Anil Ambani’s company Reliance Infrastructure is preparing to raise $350 million (Rs 3000 crore) through Foreign Currency Convertible Bonds (FCCB). The company will use this money to repay its loan (rupee debt) and start new businesses like electric power generation. This has been said in a report of Economic Times. Just last week, Reliance Infrastructure has started 4 new subsidiaries. These companies are Reliance Jai Private Limited (RJPL), Reliance Unlimited Private Limited (RUPL), Reliance EV Private Limited and Reliance Rise Private Limited (RRPL).
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These companies will focus on these businesses
Reliance Infrastructure’s subsidiaries will focus on businesses like electric power generation, information technology consultancy, infrastructure and manufacturing of vehicles for fuel transport. Apart from Reliance Infrastructure, shares of Reliance Power also gained significantly on Monday. Shares of Reliance Power closed at Rs 26.07 on Monday with a rise of more than 4 percent. The 52-week high level of Reliance Power shares is Rs 34.35. At the same time, the 52-week low level of the company’s shares is Rs 13.80. Reliance Infrastructure had approved a proposal to raise $400 million in the form of FCCB in August 2022 at Rs 123 per share. However, the company did not move ahead with this plan later.
This share fell from ₹ 295 to ₹ 10, now the sale of the company is in trouble
