Reliance energy okays raising of $ 1.3 bn abroad

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Mumbai Dec 14: Anil Ambani promoted power producing company, Reliance Energy Ltd today said that its board had approved raising upto Rs 5,000 crore ($1.3 billion) by way of foreign currency convertible bonds (FCCB) overseas.

The company informed the Bombay Stock exchange that the board of directors of the company considered the proposal on December 12 and gave it a go ahead. Earlier this month, the company said the FCCBs would be issued at a premium to the prevailing market price in appropriate tranches, as part of the resource mobilisation plans of the company.


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