To cash in on cheap funds flooding the debt market via targeted long-term repo operations (TLTRO) route, Reliance Industries (RIL) will raise ₹9,000 crore through an NCD sale to refinance the existing high-cost rupee debt.
RIL is sitting on a debt pile of over ₹1.54 lakh crore as of March 2020.
RIL is launching a ₹9,000-crore NCD issue on April 16 and the proceeds will be used to repay existing rupee debt.
If it raises the targeted ₹9,000 crore, it will be almost a tenth of the ₹1-lakh-crore liquidity the RBI promised to pump into the debt market via TLTRO.
