Reliance Power Ltd has updated about its next Board meeting for a fundraise. Reliance Power has settled all disputes with CFM Asset Reconstruction Private Limited (CFM). 100% shares of VIPL have been pledged in favour of CFM against the release and discharge of Corporate Guarantee given by Reliance Power.

The company said its board has also approved a plan to raise up to ₹3,000 crore via a qualified institutional placement.

Reliance Infrastructure Ltd, controlled by Anil Ambani, has significantly reduced its debt from Rs 3831 crore to Rs 475 crore after settling dues with multiple creditors. The company cleared outstanding amounts with Invent Assets Securitisation and Reconstruction,

In Anil Ambani's major expansion plan, he is also getting 1200 cr investment as a minority stake from prominent investors.

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,

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 under Anil Ambani seeks to raise Rs 6,014 crore to fund its expansion. The initial phase involves raising Rs 3,014 crore through a preferential issue followed by another Rs 3,000 crore via qualified institutional placement.