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Reliance Industries Ltd to raise Rupees 25,000 crore via debentures
Reliance Industries has sought shareholders\' nod to raise Rs 25,000 crore through issuance of debentures on private placement basis to meet ongoing capital expenditures and general corporate needs.
New Delhi: Reliance Industries has sought shareholders' nod to raise Rs 25,000 crore through issuance of debentures on private placement basis to meet ongoing capital expenditures and general corporate needs.
The special resolution is listed on the agenda of 40th Annual General Meeting of the company on July 21, 2017, Reliance Industries Ltd said in BSE filing.
According to the statement, the company will offer or invite subscriptions for secured/unsecured redeemable non- convertible debentures, in one or more series / tranches, of an aggregate nominal value up to Rs 25,000 crore on private placement. Besides, the company has also sought shareholders approval for providing a dividend at the rate of Rs 11 per equity share of Rs 10 each fully paid-up for the financial year ended March 31, 2017.
The members would also consider a proposal to amend article of association to impose a ceiling of 5 per cent on purchase of equity by non-promoters in its arm Jio Payments Bank Ltd until RIL remains its promoter.
