Reliance Industries to raise Rs 2,500 crore via debentures

New Delhi: Reliance Industries Ltd on Wednesday said it will make an offer for issuing non-convertible debentures (NCDs) worth Rs 2,500 crore next week.

"Pursuant to the authority given by the shareholders of the company at the Annual General Meeting held on July 21, 2017 it is proposed to make an offer for issuance of non- convertible debentures...On private placement basis on Monday September 4, 2017 aggregating Rs 2,500 crore to be listed on the stock exchanges," the company said in a filing to BSE.

The net proceeds of the issue will be utilised inter-alia for refinancing of existing borrowings and for any other purpose in the ordinary course of business, it said.