Reliance raises ~30 bn through debentures
Reliance Industries on Friday said it had raised ~30 billion through a privately placed debenture issue. The unsecured, non-convertible redeemable debentures offered 8.95 per cent return with a 10year maturity, the company said in a regulatory filing. The notes "shall be redeemed at par at the end of 10 years from the date of allotment — November 9, 2028," it said. RIL, which has invested over $30 billion over five years across energy, petrochemicals, retail, and telecom verticals, did not say where it will use the proceeds of the issue. Last month, it announced the acquisition of controlling stake in cable tv and broadband service providers, Hathway Cable & Datacom, and DEN Networks.