Reliance industries seeks shareholders’ nod to raise Rs 10,000 crore via NCD

MUMBAI: Reliance Industries has sought shareholders approval to raise up to Rs 10,000 crore through issue of non convertible debentures.

In its Annual Report for 2015-16, the company said that the company would see projects with total investment of $35 billion commissioning in 2016-17, which includes completion of petrochemical expansion projects that would place it among the top 10 global petrochemical producers.

While the company was upbeat on the impending launch of its Reliance Jio service, it said that that its petrochemical plant expansion is on schedule and would provide the company the capacity and earning potential of a top producer in the world.

During the year, RIL and its subsidiaries tied-up long-term foreign currency facilities of about $6.3 billion. With its unparalleled access to global debt markets, Reliance successfully re-priced and re-financed debt instruments thereby reducing interest cost, the company said.