Mumbai: Reliance Industries plans to raise as much as $1.5 billion (₹11,300 crore) in overseas loans to fund capital assets, said people with knowledge of the matter. This follows the recent ₹61,000 crore of investment pledged in the conglomerate’s Jio Platforms unit by Facebook and others.
RIL is in talks with 10-15 foreign lenders and the syndication process to raise funds that will be repayable in five years has begun, said the persons. The funds will be used for routine capital expenditure needs of RIL’s non-digital units, including the retail, petrochemicals and oil & gas businesses, the sources said.
“Although talks began some weeks ago, the targeted loan sum has increased by about $300 million as the syndication programme is expanding,” said one of the persons.
