Reliance Infrastructure (RInfra) is all set to hold roadshows for its Rs 2,000 crore Qualified Institutions Placement (QIP) issue by May. The company’s board has already given approval for the QIP. Shareholder consent is being sought through a postal ballot. Simultaneously, paperwork is also progressing well with the bankers. The company will use the raised amount for defence business, reduction of debt and other corporate purposes.
Reliance Infrastructure is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.