Reliance Industries will raise a sum of up to Rs 25,000 crores through issue of Non Convertible Debentures. The amount will be raised through a private placement and not through an issue to the public.
The amount is unlikely to be raised in tranches from time to time. Reliance Industries has seen its share price dip, in line with the markets. The shares have lost nearly 30 per cent from peak levels, thanks to a sharp fall of 33 per cent in the indices. The promoters have been hiking their stake in the company and have been buying shares and the market capitalization of the company has once again crossed that of TCS.
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