Reliance Industries mulls raising ₹15,000 crore via local-currency bond: Report
Reliance Industries is mulling over to raise ₹15,000 crore via the sale of a local-currency bond, reported CNBC-TV 18 citing Bloomberg. The company shares closed 0.35% higher at ₹2296.65 per share on BSE on Wednesday. Last year, the giant conglomerate raised $4 billion in U.S dollar bonds.
The fundraising activity was India's largest ever foreign currency bond deal, reported Reuters. RIL raised $1.5 billion in a 10-year tranche, $1.75 billion in a 30-year and $750 million in a 40-year deal, reported the news agency based on RIL's term sheet. According to the report, orders for the deal reached $7.25 billion and each of the tranches was primarily bought by Asian investors, the term sheet showed.
In the September quarter, the company reported a 27% rise in its net consolidated profit to ₹17,394 crore. Its net profit stood at ₹16,011 crore in the September quarter of the previous financial year. RIL's gross revenue increased by 1.2% YoY to ₹255,996 crore in the quarter under review against ₹231,132 crore in the year-ago period.
Its EBITDA jumped by 30.2% Y-o-Y to ₹44,867 crore in Q2FY24 on account of net subscriber addition, focus on cost management, and better gas realisation. The company's finance costs increased by 25.8% YoY to ₹5,731 crore primarily due to higher interest rates and currency depreciation. Its tax expenses jumped by 38% YoY to ₹6,673 crore."Exciting news! Mint is now on WhatsApp Channels
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