Home / Market / Stock-market-news /  Reliance Capital raises Rs2,500 crore from banks, financial institutions

New Delhi: Reliance Capital, part of Anil- Ambani led Reliance Group, has raised Rs2,500 crore from banks and financial institutions for refinancing its debt, said people aware of the matter.

The money has been raised through term loan and non- convertible debentures (NCDs) with maturity period ranging from 5-7 years. When contacted, a Reliance Capital spokesperson declined to comment on the issue.

Reliance Capital is present across various businesses including consumer finance, broking, wealth management, distribution of financial products and asset reconstruction. In October, the Group’s mutual fund arm—Reliance Nippon Life Asset Management (RNAM)—mopped-up Rs1,542 crore through its initial public offer.

RNAM’s public issue comprised fresh issuance of 2.45 crore shares, besides an offer for sale of 3.67 crore shares by Reliance Capital and Nippon Life Insurance Co.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.

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