Reliance Capital raises NCDs issuance limit by Rs 3,000 cr

With this, the overall borrowing limits under NCDs stands at Rs 18,000 crore

Reliance Capital has increased the limit on issuance of non-convertible debentures (NCDs) to raise funds by Rs 3,000 crore.

The board of directors on Friday decided to hike the limit for NCD issues on private placement basis by an amount of Rs 3,000 crore, Reliance Capital said in a regulatory filing.

With this, the overall borrowing limits under NCDs stands increased to up to Rs 18,000 crore, sources said.

The company said it can raise the increased sum of Rs 3,000 crore in one or more tranches from time to time.

Reliance Capital's stock was trading 0.60 per cent down at Rs 616.70 apiece on BSE today.