Allots 13,00,000 Unsecured NCDs (PPD Series R) Raising Rs. 13008.6095 crore at 7.90% p.a
Allotted 13,00,000 unsecured, redeemable NCDs of face value Rs. 1,00,000 each on private placement basis (PPD Series R).
- NCD Units Allotted
- 13,00,000 unsecured, redeemable NCDs
- Face Value Per NCD
- Rs. 1,00,000
- Total Amount Raised
- Rs. 13008.6095 crore
- Coupon Rate
- 7.90% p.a.
- Maturity Date
- October 1, 2036
What happened
Reliance Industries allotted 13,00,000 Unsecured, Redeemable, Non-Convertible Debentures of face value Rs. 1,00,000 each, called PPD Series R, on a private placement basis on October 1, 2026, at around 2:39 p.m. (IST). Allotment was made on a 'multiple yield allotment' basis.
Key terms
- Base issue size: Rs.12000,00,00,000 with a green shoe option to retain over-subscription up to Rs. 1000,00,00,000
- Aggregate amount received from allottees: Rs. 13008.6095 crore
- Tenor: 10 (Ten) years; maturity/redemption on October 1, 2036
- Coupon: 7.90% p.a., paid annually at Rs. 7,900 per NCD across 10 coupon payments from October 1, 2027 to October 1, 2036
- Security: the NCDs are unsecured, with no charge created over assets
- Credit rating: CRISIL AAA/Stable and CARE AAA/Stable
- Proposed listing: BSE Limited and National Stock Exchange of India Limited
What it means for investors
This is a debt raise, not an equity issue, so there is no dilution for existing shareholders. The company adds long-term borrowing at a fixed 7.90% annual cost for ten years, with the principal repayable in one go at maturity rather than in instalments. The highest credit ratings from both CRISIL and CARE indicate the rating agencies' view on the company's ability to service this debt.
The update also records that there is no delay in payment of interest or principal. The NCDs will be credited to debenture holders' demat accounts in due course.
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More numbers
- NCDs allotted13,00,000
- Face value per NCDRs. 1,00,000
- Base issue sizeRs.12000,00,00,000
- Green shoe optionRs. 1000,00,00,000/-
- Aggregate amount received from allotteesRs. 13008.6095 crore
- Tenor10 (Ten) years
- Coupon rate7.90% p.a.
- Coupon amount per NCD per payment7,900
- Number of coupon payments10
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