Reliance Power's board is set to meet on Monday to consider raising of long-term funds from domestic and/or global markets through multiple routes.

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

Anil Ambani’s Reliance Infrastructure shares surge amid fundraising plans. Despite recent regulatory challenges, the company is exploring various options to raise capital, including issuing new shares and convertible securities.

In three days -- from September 18 to September 20 -- the group announced it has turned into nearly zero and is implementing long-term fund raising plans that are said to solidify its financial position.

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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,

Reliance Infrastructure has significantly reduced its standalone external debt to Rs 475 crore. Consequently, the net worth of the company will stand at around Rs 9,041 crore.

As per the company exchange filing, Reliance Infrastructure is planning to raise Rs 6,014 crore. The purpose behind the fundraising is the expansion of the company's product portfolio and services. This will be completed through preferential issues and QIP.

Promoters Anil Ambani and family have invested Rs 1,104 crore in the Rs 3,014 crore preferential share issue of Reliance Infrastructure. Ambani and his family, which holds 21.34% in the company has made the investment through Risee Infinity Private Limited.