(LiveMint)
Mukesh Ambani-controlled Reliance Industries (RIL) has raised ₹5,500 crore through a private placement of non-convertible debentures (NCDs), said two officials aware of the development, requesting anonymity. The company raised the capital in December across two tranches of 25,000 partly-paid redeemable non-convertible debentures aggregating to ₹2,500 crore and 30,000 unsecured redeemable non-convertible debentures aggregating to ₹3,000 crore worth of debentures at a coupon rate of 8.7% and 8.65%, respectively.
“ICICI Lombard, Future Generali India Life Insurance, Tata AIA Life Insurance and HDFC Standard Life are among the allottees which participated in the private placement. The funds will help RIL meet its operating expenditure,” said the first official mentioned above. With the latest round, Reliance Industries has sold debentures amounting to a total outstanding of ₹30,500 crore, as of December 2018.
