Reliance Financial to raise up to Rs 600 cr via debentures

Reliance Financial today said it will raise up to Rs 600 crore through issuance of debentures on a private placement basis.
The decision was taken at the Extra-ordinary General Meeting yesterday, the company said in a regulatory filing.
"...The meeting has authorised the Board of Directors of the company to issue secured redeemable non-convertible debentures including market-linked debentures up to an amount of Rs 600 crore on a private placement basis," it added.
The company did not elaborate on the usage of proceeds.
Reliance Financial is a part of Reliance Capital group.