Reliance Board Approves ₹15,000 Crore NCD Fundraise

Reliance Industries Ltd (RIL) has approved plans to raise up to ₹15,000 crore through non-convertible debentures (NCDs), alongside announcing record financial results for the September quarter of 2026-27.

The Mukesh Ambani-led conglomerate reported its highest-ever quarterly revenue, earnings before interest, taxes, depreciation and amortisation (EBITDA), and net profit, supported by strong performance across its oil-to-chemicals, digital services and retail businesses.

In a stock exchange filing on Friday, RIL said its board had passed an enabling resolution authorising the issuance of listed, redeemable NCDs worth up to ₹15,000 crore.

The proposed securities may be secured or unsecured and will be issued through private placement in one or more tranches.

The approval provides the company with the option to raise funds through debt instruments, although the filing does not specify an issuance schedule.

As of Sept 30, 2026, Reliance's outstanding NCDs stood at approximately ₹39,389 crore, excluding adjustments for prepaid finance charges and fair valuation.

Secured debentures accounted for around ₹20,000 crore of the outstanding amount.

During the September quarter, the company also raised approximately ₹12,000 crore through listed, unsecured, redeemable NCDs under its PPD Series Q issuance.

Reliance reported consolidated revenue of ₹3.62 lakh crore for the second quarter, registering a 28% increase.

Quarterly EBITDA climbed 24% to an all-time high of ₹62,409 crore.

Net profit rose 34% to ₹29,550 crore, marking another quarterly record for the conglomerate.

The company's cumulative net profit for the first half of FY27 also crossed ₹50,000 crore for the first time.

The earnings growth was driven by robust performance in the oil-to-chemicals segment, alongside continued expansion in digital services and retail operations.

The strong quarterly results coincided with the board's decision to authorise additional debt fundraising through the private placement route.