REL to raise Rs 5,000 cr through FCCB issue

MUMBAI: Anil Ambani group firm Reliance Energy on Friday said it will raise Rs 5,000 crore through issue of foreign currency convertible bonds.

"The Board of Directors of the company passed an enabling resolution approving in principle the issuance of FCCBs in the international market, for an amount not exceeding Rs 5,000 crore," REL said in a filing to the Bombay Stock Exchange.

The board will decide from time to time about the amount to be raised through FCCBs under this limit, subject to relevant guidelines and approvals, it added.

Shares of Reliance Energy traded at Rs 1,915 each, up 0.19 per cent at 1454 hrs on BSE.