Shares of Reliance Infrastructure zoomed 12.37% to a fresh 52-week high of Rs 320 on BSE. Market cap of the firm stood at Rs 12,622 crore.

Reliance Infrastructure aims to raise Rs 6,014 crore to support its expansion plans. Initially, it will secure Rs 3,014 crore through a preferential issue, followed by an additional Rs 3,000 crore through a QIP.

Shares of Reliance Infrastructure are in news today after the firm said its board has approved raising of Rs 3,014.4 crore through a preferential issue of up to 12.56 crore equity shares at an issue price of Rs 240 apiece.

Reliance Infrastructure shares have posted strong returns, rising 31.51% in the past month and 25.78% over six months. Year-to-date, the stock has surged 80.53%, delivering over 49.47% returns in the last twelve months,

The company said the proceeds from the QIP will be used for expansion of business operations directly and/or through investment in subsidiaries and joint ventures including meeting the long-term worki

Reliance Infrastructure, led by Anil Ambani, is seeking to raise Rs 6,014 crore to support its expansion plans.

Anil Ambani-promoted Reliance Infrastructure (R-Infra)’s board on Thursday approved a preferential issue to raise Rs 3,014 crore through the issuance of up to 12.56 crore equity shares at a price of Rs 240 per share.