Reliance Group plans Rs 17,600 crore fundraising to support growth initiatives

economictimes.indiatimes.com

Anil Ambani's Reliance Group plans to raise Rs 17,600 crore to support growth, maintaining a zero-debt status. The funds will come from equity shares, foreign currency convertible bonds, and qualified institutional placement. The group aims to raise Rs 4,500 crore through equity shares, Rs 7,100 crore from Varde Partners via bonds, and Rs 6,000 crore through QIP. Shareholder approvals are expected by the end of the month. This fundraising will enhance the companies' net worth to around Rs 25,000 crore and provide a total investment of Rs 50,000 crore for future business plans.


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