Reliance Industries raises Rs 3,600 crore through NCDs

Reliance Industries has raised Rs 3,600 crore through issuance of 36,000 unsecured redeemable non-convertible debentures (NCDs) on a private placement basis.

In a filing at the stock exchange, the company said, “On May 19, 2020, RIL allotted 36,000 unsecured redeemable non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each, aggregating Rs 3,600 crore (PPD series N Debentures) issued on a private placement basis.”

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“The tenor of the debenture is 3 years, 4 months and 2 days from the date of allotment and the date of maturity or the redemption date is September 21, 2023. The redemption amount is Rs 10 lakh per debenture payable on the redemption date,” the filing said.

Speaking on the ratings, the company said, “The credit rating for NCD is “CRISIL AAA/Stable” by CRISIL and “CARE AAA/Stable” by CARE Ratings.”

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