Reliance Industries (RIL) has proposed to make an offer for issuance of Non-convertible Debentures (NCDs Series B) (2nd Tranche) on private placement basis on September 1, 2017 aggregating Rs 2,500 crore, to be listed on the Stock Exchanges. This step has been taken pursuant to the authority given by the shareholders of the company at the Annual General Meeting held on July 21, 2017.
The net proceeds of the issue will be utilized for refinancing of existing borrowings and for any other purpose in the ordinary course of business.
Reliance Industries (RIL) is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
