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Reliance Industries has approved plans to raise up to Rs 15,000 crore through non-convertible debentures, adding a major fundraising decision to its latest earnings update.

Fundraising through private placement

The company will issue the non-convertible debentures through private placement. The approved amount represents the maximum Reliance Industries plans to raise under the proposal.

Non-convertible debentures are debt instruments that do not convert into equity. The announcement provides details of the planned fundraising but does not specify the terms of the debentures or how the proceeds will be used.

Profit rises in the second quarter

Reliance Industries announced the fundraising alongside its second-quarter earnings. The company reported a net profit of Rs 25,548 crore, representing a 41% year-on-year increase.

The combined update highlights both the company’s access to debt financing and its reported profit growth during the quarter. However, the information available does not include further details on the timing of the issue, investor participation or the impact of the fundraising on the company’s finances.

What to watch

Further details about the non-convertible debenture issue would clarify its structure and execution. For now, the approved plan and the second-quarter profit figure are the key elements of Reliance Industries’ announcement.