Oil to telecom conglomerate Reliance Industries (RIL) on Thursday said the company’s board has approved a proposal to raise Rs 25,000 crore through non convertible debentures (NCD)s in multiple tranches. The company did not disclose the purpose for the fund raising.
“It is hereby informed that the board of directors of the company, at its meeting held today, has approved, the proposal for raising of funds through issuance of Non-Convertible Debentures (NCDs) up to Rs. 25,000 crore in tranches from time to time, on a private placement basis,” RIL said in its statement to BSE.
While the company did not disclose the purpose for fund raising, the management earlier guided the company’s capex cycle will slow down going forward.
