Reliance Industries Ltd.

In a bid to fund its Rs 1 lakh crore capital expenditure plan, Reliance Industries, India’s most valued company, has raised $800 million through perpetual bonds from investors abroad. The company will spend the said amount in the expansion of petrochemicals business and ramp up oil and gas exploration in next three to four years.

The company has raised the capital at a coupon rate of 5.875%, making it the first issuance of perpetual bond below 6% in the world. Citi, Bank of America Merill Lynch, HSBC, J P Morgan, RBS, Barclays were the bankers to the issue.

RIL is India's biggest private sector company, and its operations range from oil and gas exploration and production to refining and petrochemicals.