For the first time since Covid-19, Asia's richest man mukesh ambani is turning to the domestic debt market for funding. For the first time since Covid-19, Asia's richest man mukesh ambani is turning to the domestic debt market for funding. 20,000 crore of Ambani's reliance Industries Ltd. Fund raising through bonds was the biggest domestic bond sale of the week. Fund raising activity involves the sale of non-convertible debentures (NCDs). This will be done on november 9 from 10:30-11:30 am through the electronic book mechanism of the BSE bond platform, a media report said. The road to loss, the Tata Group is ready to sell the home appliance company for Rs 26,936 crore!
This activity is the largest of its kind undertaken by a non-Banking, Financial services and Insurance (BFSI) private entity in the country. In the BFSI segment, hdfc has offered to raise Rs 25,000 crore through bonds ahead of the hdfc bank merger. This is the first time that Ambani's reliance Industries Ltd has ventured into the domestic debt market after 2020 when it raised Rs 2,795 crore after the nationwide lockdown. The latest innovation will reportedly be used for activities such as refinancing of existing loans and investing in domestic subsidiaries, where the conglomerate controls a 51 percent stake.
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