In its regulatory filing, RIL said, “We wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e. January 20, 2023, has inter alia approved raising of funds through issuance of Non-Convertible Debentures (NCDs) up to Rs 20,000 crore, in one or more tranches / series, on a private placement basis.”
Notably, Gautam Adani-led Adani Group is also raising Rs 20,000 crore through a follow-on public offering (FPO). The FPO, which has a price band of Rs 3,112 - Rs 3,276 per share, will open on January 27.