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RIL surges on raising $2 billion, 13 year loan backed by Euler Hermes

10 May 2012 Evaluate

Reliance Industries is currently trading at Rs. 702.80, up by 7.70 points or 1.11% from its previous closing of Rs. 695.10 on the BSE.

The scrip opened at Rs. 697.70 and has touched a high and low of Rs. 706.45 and Rs. 696.00 respectively. So far 100030 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 967.90 on 03-Jun-2011 and a 52 week low of Rs. 671.00 on 08-May-2012.

Last one week high and low of the scrip stood at Rs. 739.90 and Rs. 671.00 respectively. The current market cap of the company is Rs. 229420.40 crore.

The promoters holding in the company stood at 44.75% while Institutions and Non-Institutions held 28.26% and 23.54% respectively.

Reliance Industries (RIL) has signed a $2 billion equivalent loan with nine banks covered by Euler Hermes Deutschland AG (Euler Hermes) on May 07, 2012 at Berlin, Germany. The loan will be primarily used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej in India.

This facility is significant on various counts as it is among the largest underwriting by Euler Hermes in recent years and Euler Hermes has for the first time accorded ‘Better than Sovereign’ rating to a corporate.

Further, despite the challenging financial markets, the deal witnessed 50% over subscription. The facility has a door-to-door maturity of 13 years and this deal will help diversify RIL's funding sources and extends the maturity profile of its long term debt in a cost effective manner.  

Reliance Industries Share Price

1365.10 21.65 (1.61%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1365.10
Indian Oil Corp. 145.85
BPCL 312.05
HPCL 370.95
MRPL 183.20
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