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Reliance Industries Limited planning to raise $2.25 billion to expand RJIL

January 23, 2017
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Reliance Industries Limited (RIL) is planning to raise $2.25 billion in a bid to replace its existing high-cost borrowings and to expand the services of its telecom unit, Reliance Jio Infocomm Limited (RJIL). RIL is planning to raise the money through external commercial borrowings.

The company is reportedly in talks with at least 10-12 investment bankers and is planning to soon start marketing roadshows in North America, Europe, the Middle East and Asia.

Earlier, RIL had raised Rs 0.3 trillion through a rights issue in January 2016 and September 2016. Meanwhile, the company had recently announced its plans for raising Rs 0.3 trillion through a rights issue of optionally convertible preference shares for investing in RJIL.

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