RIL To Raise Rs 25,000 Crore Via NCDs

Mukesh Ambani led Reliance Industries is planning to raise Rs 25,000 crore as the company seeks to fund an aggressive expansion plan in the telecom sector and to also replace existing high-cost borrowings. The funds would be raised through privately placed debentures.

The oil to retail conglomerate will seek its shareholder’s nod to issue redeemable non-convertible debentures (NCDs) on private placement basis.

The annual general meeting will be held on July 21 to consider the fund raising, the company said in its filling.

RIL, which operates the world’s biggest oil refinery complex in Jamnagar with a capacity of 1.24 million barrels per day, has already invested USD 25 billion in setting up a nationwide, fourth generation mobile network.

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