Reliance Capital raises Rs 2,000 crore through Private Placement

Reliance Capital, a part of Anil-Ambani led Reliance Group, has completed a fund raising exercise of Rs 2,000 crore ($300 million) through private placement of secured redeemable Non-Convertible Debentures (NCDs) for a period of 5 years and 10 years respectively.

The issue size offered was Rs 1,000 crore ($150 million) with an option to retain oversubscription, by way of green-shoe option, of up to Rs 1,000 crore ($150 million). The issue was fully subscribed, including the green shoe option and will be listed on BSE. The secured redeemable NCDs offer an annual coupon rate of 8.9 percent for 5 years and 9 percent for 10 years.

Further, the issue was rated ‘AAA’ by two rating agencies - Credit Analysis and Research (CARE) and Brickwork Ratings India.