For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

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


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.

Read more about: reliance industries
Story first published: Saturday, July 18, 2020, 6:05 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
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