For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Reliance Industries to raise Rs 10,000 cr via NCDs

By Religare
|

Reliance Industries plans to raise Rs 10,000 crore through a privately placed non-convertible debenture (NCD) issue to fund its ongoing capital expenditure, said the media report.

RIL will seek shareholders' nod on June 12 to "offer of invite subscriptions for secured/unsecured redeemable non-convertible debentures, in one or more series/tranches, aggregating up to Rs 10,000 crore on private placement" the company said in a filing to the Bombay Stock Exchange.

The terms and conditions as well as the timing of the issue will be decided by the board, the company said in an annual general meeting (AGM) notice to shareholders.

 

"The members of the company, at the 40th Annual General Meeting held on June 18, 2014, had authorised the Board of Directors of the company to offer or invite subscription for non-convertible debentures, in one or more series / tranches, aggregating up to Rs 10,000 crore on private placement," it said.The company, it said, has not made any private placement of non-convertible debentures pursuant to the said authorization.

"However, in order to augment long-term resources for financing, inter alia, the ongoing capital expenditure and for general corporate purposes, the Board may, at an appropriate time, offer or invite subscription for secured/unsecured redeemable non-convertible debentures, in one or more series / tranches on private placement, issuable/redeemable at par," it said.

Story first published: Thursday, May 21, 2015, 23:00 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more