Mumbai, Jan 07 (Agencies): Anil Ambani group firm Reliance Infrastructure on Friday said its promoters have invested Rs 2,095 crore in the company shares, raising their stake by about 5 per cent to 48 per cent.
The shares have been allotted to the promoters after they converted warrants issued to them in July 2009.
In a statement, the company said it allotted on Friday 2.26 crore equity shares to AAA Project Ventures Private Limited, a promoter group company, against convertible warrants issued to them for Rs 2,095 crore.
The company in July 2009 allotted 4.29 crore convertible warrants to AAA Project Ventures Private Limited entitling them to equal number of equity shares at an issue price of Rs 929 per share. The total warrants were equivalent to shares worth about Rs 4,000 crore.
The share allotment in the latest transactions has been made at nearly 15 per cent premium to the last two weeks average of the company's stock price.
As a result of new equity capital infusion, the promoter group's holding has gone up to nearly 48 per cent from existing nearly 43 per cent.
This equity capital infusion will substantially enhance RInfra's net worth to Rs 23,125 crore, providing increased financial flexibility, the company said.
It added that RInfra has no outstanding instruments for conversion to equity and it has become net debt free.
Part of the Reliance Anil Dhirubhai Ambani Group, RInfra is the country's largest infrastructure company. It has a market capitalisation of around Rs 1,10,000 crore and and net profit of around Rs 7,000 crore.
It has presence in power generation, transmission, distribution and trading business and is also developing projects in roads, highways, metro rails, airports and speciality real estate spaces.