RIL to raise Rs 9,000 cr via NCD issue on April 16 to refinance rupee debt

The most cash-rich company is also one of the most indebted corporates sitting on debt pile of over Rs 1.54 trillion as of March 2020.

To cash in on cheap funds flooding the debt market through the targeted long-term repo operations route, Reliance Industries (RIL) plans to raise Rs 9,000 crore through sale of non-converticle debentures (NCDs) for refinancing its existing high-cost rupee debt.

The most cash-rich company, RIL is also one of the most indebted corporate entities in India, with a debt pile of over Rs 1.54 trillion as of March 2020.

According to an exchange filing, RIL is launching a Rs 9,000-crore NCD issue on April 16 and the proceeds from the debt sale will be used to repay existing rupee debt.

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