Reliance Capital, a part of Anil-Ambani led Reliance Group, on Tuesday said it has raised Rs 2,000 crore (about $300 million) through private placement of secured, redeemable non-convertible debentures for a period of 5 years and 10 years respectively. The issue size offered was Rs 1,000 crore ($150 million) with an option to retain oversubscription, by way of greenshoe option, of up to Rs 1,000 crore. The company said the issue was fully subscribed, including the greenshoe option, and will be listed on BSE. Debentures are financial instruments which carry a fixed rate of interest that is paid to the debenture holders. The secured redeemable debentures offer an annual coupon rate of 8.9% for 5 years, and 9% for 10 years.

Source: Hindustan Times September 06, 2016 11:26 UTC