The country's most valued firm Reliance Industries (RIL) has raised loan worth $1 billion (about Rs 4,700 crore) from various banks.
According to market sources, Mukesh Ambani-led RIL has raised term loans worth $1 billion from as many as 31 banks.
However, it could not be ascertained for what purposes the loan would be utilised by the company.
When contacted, an RIL spokesperson declined to comment.
The banks that were involved in arranging the loan include Barclays Plc, Citigroup Inc, DBS Group Holdings and Standard Chartered Plc.
Shares of RIL today closed at Rs 956.70, down 1.18 per cent on the Bombay Stock Exchange.