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Reliance Industries Deploys Rs. 35000 Cr Into Debt Funds: Report

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As per sources privy to the knowledge, the oil to telecom conglomerate Reliance Industries has parked Rs. 35000 crore or $4.7 billion into debt mutual funds that it mopped up after stake sale in Jio and via the rights issue.

 

Reliance Industries Deploys Rs. 35000 Cr Into Debt Funds: Report

As per money managers, the funds have been deployed into ultra-short and money-market funds and others with debt exposure with an average maturity spanning between three-to-five year maturities. From 13 deals so far in just 3 months, the company garnered a sum to the tune of Rs. 1.5 lakh crore, which has been shown interest of by money managers who are wishing to get a pie out of it.

"'Lately, we have seen sharp inflows into mutual funds' debt plans from a large conglomerate,"' said Dhirendra Kumar, chief executive officer at Value Research Ltd., a mutual fund advisory firm, without naming the company. "I expect this to continue for some more time."A Reliance spokesperson though declined to comment.

The pouring of funds by Reliance has also helped the rupee to gain in the past week and advance by over 1% in the past month. The Indian corporate giant may be taking a bet on the interest-rate cycle with its investments, one person said.

GoodReturns.in

Story first published: Saturday, July 18, 2020, 6:05 [IST]
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