Reliance Industries to raise Rs 25,000 crore through NCDs in tranches

In August 2019, group chairman and managing director Mukesh Ambani told shareholders that the company will be a zero net debt company before March 2021

Oil to telecom conglomerate Reliance Industries (RIL) on Thursday said the company’s board has approved a proposal to raise Rs 25,000 crore through non convertible debentures (NCD)s in multiple tranches. The company did not disclose the purpose for the fund raising.

“It is hereby informed that the board of directors of the company, at its meeting held today, has approved, the proposal for raising of funds through issuance of Non-Convertible Debentures (NCDs) up to Rs. 25,000 crore in tranches from time to time, on a private placement basis,” RIL said in its statement to BSE.

While the company did not