Reliance Industries Ltd Want Approval From Shareholders To Raise Rs 25,000cr

On Monday Reliance Industries said that it will seek shareholder approval to issue redeemable non-convertible debenture on private placement basis to raise Rs 25,000cr, the company told the BSE that it will hold its fortieth annual general meeting (AGM) on Friday 21 July 2017 in Mumbai.

The approval from shareholders to offer or invite subscriptions for secured, unsecured redeemable non-convertible debentures, in one or more series, tranches of an aggregate nominal value up to Rs 25,000 Cr on private placement is the main agenda of the AGM.

Also the company waits to declare a dividend at the rate of Rs 11/equity fully paid-up of the company for the financial year ended March31, 2017. Other items included re-appointment of Nita M. Ambani as a Director of the company is one more agenda of companies, she retires at the upcoming AGM meet.

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