Anil Ambani planning something big, set for a massive comeback with Rs 180000000000 gamechanger plan, what will he do with the money?
Once the richest person in the world, Anil Ambani, had gotten himself stuck in the web of debt through a number of unfortunate events and poor decisions. His companies started to face bankruptcy, but now, finally, there seems to be light at the end of the tunnel. Anil Ambani's businesses are beginning to show signs of revival, and some are even turning profitable. Two of his most crucial businesses, Reliance Power and Reliance Infrastructure, have made an astonishing recovery, as already demonstrated by their ever-increasing share price.
After getting debt-free, Anil Ambani is ready to raise fresh funds. Reliance Power and Reliance Infrastructure are planning to raise Rs 9,000 crore each, for a total of Rs 18,000 crore in fundraising. Following the news of the fundraising initiative, Reliance Infrastructure shares soared, skyrocketing on Thursday to Rs 404.90.
After navigating through a difficult time, Anil Ambani's company Reliance Power is gearing up for a much-awaited fundraising opportunity. In principle, the company's board has approved a mega plan to raise Rs 6,000 crore. Reliance Power plans to use either a Qualified Institutional Placement(QIP) or Follow-on Public Offer(FPO) to raise this amount, along with the issuance of debentures up to Rs 3,000 crore.
With respect to Reliance Power's share price, it climbed by 2.40% to Rs 66.09 on Wednesday, resulting in a market capitalization of Rs 27,330 crore. Over six months, the stock has offered 60% returns, while over one year it has provided a remarkable 130% return.
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