RIL plans to raise Rs 10,000 cr in debt
New Delhi: Reliance Industries plans to raiseRs 10,000 crore through privately placed redeemable non-convertible debentures. The company has sought shareholder approval for the fund raising plan.
A special resolution authorising "Board of Directors of the Company to offer or invite subscription for redeemable non-convertible debentures, as may be required by the company, from time to time and as set out herein, for a year from the date of passing this resolution" will be put to vote at its AGM on September 1.
The resolution seeks shareholder nod to for offering or inviting "subscriptions for secured / unsecured redeemable non-convertible debentures, in one or more series/ tranches, of the aggregate nominal value up to Rs 10,000 crore on private placement."
It also sought to give the Board powers to determine the face value of debentures to be issued, the consideration for the issue, mode of payment, coupon rate, redemption period, utilisation of the issue proceeds and all matters connected.