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RIL to raise Rs 9,000 cr via NCD issue on April 16 to refinance rupee debt

The most cash-rich company is also one of the most indebted corporates sitting on debt pile of over Rs 1.54 trillion as of March 2020.

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Each NCD has a face value of Rs 1 million each aggregating to Rs 30 billion along with a greenshoe option for oversubscription up to Rs 15 billion, aggregating in cash to Rs 45 billion.

BS Web Team Agencies New Delhi

3 min read Last Updated : Apr 14 2020 | 2:11 PM IST

To cash in on cheap funds flooding the debt market through the targeted long-term repo operations route, Reliance Industries (RIL) plans to raise Rs 9,000 crore through sale of non-converticle debentures (NCDs) for refinancing its existing high-cost rupee debt.

The most cash-rich company, RIL is also one of the most indebted corporate entities in India, with a debt pile of over Rs 1.54 trillion as of March 2020.

According to an exchange filing, RIL is launching a Rs 9,000-crore NCD issue on April 16 and the proceeds from the debt sale will be used to repay existing rupee debt.

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Topics : Reliance Industries NCD