Reliance Industries Limited (RIL) has announced the successful allotment of 20,00,000 Secured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs. 1,00,000 each under the "PPD Series P," the company on Friday announced through an exchange filing.
The private placement, issued on a private placement basis, has a face value of Rs. 1,00,000 each. The NCDs, totaling Rs. 20,000 crore, were oversubscribed, with an initial base issue of Rs. 10,000 crore and an option to retain oversubscription (Green Shoe Option) up to Rs. 10,000 crore.
The NCDs, with a face value of Rs. 1,00,000 each, were allotted on November 10, 2023. The payment structure involves 50% payable on November 10, 2023, and the remaining 50% on December 15, 2023.
Listing and Maturity:
Reliance Industries plans to list the NCDs on BSE Limited and the National Stock Exchange of India Limited. The NCDs have a tenor of 10 years, with a final redemption date set for November 10, 2033.
Redemption Schedule:
The NCDs will be redeemed in four tranches, each representing 25% of the face value, on February 10, 2033, May 10, 2033, August 10, 2033, and the final redemption date on November 10, 2033.
The debentures will be secured by a first pari-passu charge through hypothecation on various movable and fixed assets, including plant and machinery, electrical equipment, and installations across different manufacturing divisions of Reliance Industries.
