Mukesh Ambani wants 20000 crores, what work are he going to do? - Newztezz Online- Latest News Today, Breaking News, Top News Headlines, Latest Sports News

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Wednesday, November 8, 2023

Mukesh Ambani wants 20000 crores, what work are he going to do?

The country's richest man Mukesh Ambani needs Rs 20,000 crore. He needs this money for his company Reliance Industries. After all, what work is Reliance Industries going to do for which it needs Rs 20,000 crore? How will she raise so much money?

Mukesh Ambani, India's richest man and chairman of Reliance Industries, needs Rs 20,000 crore. Reliance Industries has also informed the stock market about this. After all, for what purpose does Mukesh Ambani need so much money and how is he going to arrange it?

A Bloomberg report says that Mukesh Ambani has sent a request to the stock market to raise money through rupee-dominated bonds. This request has been sent to raise Rs 200 billion (Rs 20,000 crore).

Option to raise Rs 100-100 billion

Reliance Industries has kept the base size of its Rupee bonds at Rs 100 billion. Along with this, an additional option of Rs 100 billion has also been kept. That means Reliance will first raise Rs 100 billion and if it feels the need, it will raise another Rs 100 billion. The auction of these bonds will be held on Thursday. These bonds have received AAA rating from CRISIL and CareAge. The maturity of these bonds will be in 10 years.

Biggest offer after 2020

If this rupee bond sale offer of Reliance is completed. Then this will be the biggest rupee-bond offer of Reliance after 2020. Rupee-bond means that Reliance Industries will raise the amount of Rs 20,000 crore from the domestic market only. With this, Indian investors will have a chance to buy these bonds of Reliance. However, not many details have been revealed yet.

Reliance is the most valuable company in the country. This company, which works in sectors ranging from petroleum to chemical, is also the country's largest telecom and largest retail company. Reliance Industries is rapidly expanding in the retail sector. At the same time, the new energy segment is also gaining ground. The company has not yet clarified what it will do with this amount of Rs 20,000 crore?

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