Mukesh Ambani’s Reliance Industries wants to raise another ₹25,000 crore by private placement of non-convertible debentures, according to a disclosure the company made to stock exchanges on Monday.
The resolution asking shareholders of the company to approve of the fund raising plans will be put to vote at RIL’s annual general meeting on July 21.
This is likely to be among the largest bond issues by a single company this year. According to data with securities market regulator SEBI, corporates have raised ₹97,207 crore in 602 issues of privately placed debt in April and May of this fiscal.
The refining-retail-telecom conglomerate had raised ₹30,000 crore in 2015-16 through a rights issue and another ₹30,000 crore through a rights issue of optionally convertible preference shares for the 4G telecom network Jio.