The country's most valued firm Reliance Industries (RIL) has raised loan worth $1 billion (about Rs 4,700 crore) from various banks.
According to market sources, Mukesh Ambani-led RIL has raised term loans worth $1 billion from as many as 31 banks.
However, it could not be ascertained for what purposes the loan would be utilised by the company.
When contacted, an RIL spokesperson declined to comment.
The banks that were involved in arranging the loan include Barclays Plc, Citigroup Inc, DBS Group Holdings and Standard Chartered Plc.
Shares of RIL today closed at Rs 956.70, down 1.18 per cent on the Bombay Stock Exchange.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app