Oil-to-telecom group Reliance Industries Limited (RIL) said on Thursday that its board has approved a proposal to raise up to Rs 25,000 crore through non-convertible debentures (NCDs). On a private placement basis, the funds will be raised in installments from time to time, the company said in an exchange filing.
On 31 March, Reliance Industries said it had grown funds through the issuance of NCDs on a private placement basis, year-on-year, RIL shares fell by 28.63 per cent, while the benchmark Sensex fell 31.48 per cent in the same period.
Prior to the announcement, RIL shares closed at Rs 1,080.65, down 2.86 percent on the BSE on Wednesday.
Reliance on Tuesday overtook TCS again to grab the title of most valuable firm by market capitalization.