(TOI)
Reliance Industries plans to raise Rs 25,000 crore through privately placed debentures as the energyto-retail conglomerate seeks to replace existing high-cost borrowings as well as build a war chest for its aggressive expansion strategy in the telecom space. The Mukesh Ambani-led firm sought shareholders’ nod to issue redeemable non-convertible debentures (NCDs) on private placement. In a stock exchange notice, RIL said the company’s annual general meeting will be held on July 21 to consider the fund-raising.
A shareholder resolution sought nod “to offer or invite subscriptions for secured unsecured redeemable nonconvertible debentures, in one or more series tranches, of an aggregate nominal value up to Rs 25,000 crore on private placement.”
