RIL’s $8.1 billion fundraise may help save $300 million in interest costs

Reliance Industries has internally projected to save about $300 million (Rs 2,250 crore) in interest cost in the next financial year, after the oil-to-retail conglomerate raised $8.1 billion from global and local investors in the past four months to primarily refinance high-cost debt, people familiar with the matter told ET.

India’s largest company by market capitalisation raised the debt just before interest rates started firming up globally. The estimated benefit on its borrowing cost is more than the annual profits earned by 98% of India’s listed companies.