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News Brief | September 2016

Reliance plans to raise Rs.10,000 crore in debt

Reliance Industries (RIL) plans to raise Rs.10,000 crore by issuing privately-placed redeemable non-convertible debentures. The company has sought shareholders´ approval at the 42nd annual general meeting scheduled for September 1, 2016.

During the year, RIL and its subsidiaries tied-up long-term foreign currency facilities of about $6.3 billion. KG basin Domestic gas production from its KG basin block has declined. But the company is upbeat with Centre´s new gas pricing policy which provides marketing and pricing leeway for production from discoveries in deep water, ultra-deep water and high-pressure high-temperature areas.´Both Reliance and its partner BP are evaluating the new policy and investment plans to develop discovered resources,´ said Mukesh Ambani, Chairman, RIL. With RIL´s biggest capex cycle nearing completion, fruits of more than $35 billion investments are expected in FY 2016-17, according to RIL´s annual report to its shareholders.

Contact: RIL

Website: www.ril.com/

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