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    HomeNewsBusinessStocksReliance Infra jumps 4%, co to raise Rs 2500 cr

    Reliance Infra jumps 4%, co to raise Rs 2500 cr

    The funds will be used for refinancing and extending maturities of higher cost rupee debt and other approved end uses.

    October 10, 2013 / 17:45 IST

    Moneycontrol Bureau

    Shares of Reliance Infrastructure jumped 4 percent intraday on Thursday as the board approved its fund raising plans. The board agreed to raising up to Rs 2,500 crore of long-term funds via external commercial borrowings, foreign currency convertible bonds and rupee term loans.

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    The amount raised will be utilised towards refinancing and extending maturities of higher cost rupee debt and other approved end uses, the company said.

    The stock ended at Rs 412.20, up Rs 9.40, or 2.33 percent on the BSE.

    (Posted by Nasrin Sultana)

    first published: Oct 10, 2013 05:45 pm

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