{"id":1244509,"date":"2023-04-10T13:35:47","date_gmt":"2023-04-10T08:05:47","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1244509"},"modified":"2023-04-10T13:36:23","modified_gmt":"2023-04-10T08:06:23","slug":"reliance-raises-rs-40000-crore-from-73-lenders-biggest-loan-in-indias-corporate-history","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/reliance-raises-rs-40000-crore-from-73-lenders-biggest-loan-in-indias-corporate-history\/","title":{"rendered":"Reliance Raises Rs 40,000 Crore From 73 Lenders: Biggest Loan In India&#8217;s Corporate History!"},"content":{"rendered":"\n<p>In 2020, Reliance Industries had announced that it had become net-debt free after raising Rs 1.68 lakh crore via rights issue and investments.<\/p>\n\n\n\n<p><strong>Largest corporate loan&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Relianceambani-1280x720-1-1024x576.jpeg\" alt=\"Reliance Raises Rs 40,000 Crore From 73 Lenders: Biggest Loan In India's Corporate History!\" class=\"wp-image-1244523\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Relianceambani-1280x720-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Relianceambani-1280x720-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Relianceambani-1280x720-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Relianceambani-1280x720-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Major conglomerates including competitor Adani have been prepaying loans to address debt concerns among investors.<\/p>\n\n\n\n<p>In the latest development, Mukesh Ambani&#8217;s firm has raised the largest loan in India&#8217;s corporate history, by borrowing $5 billion from multiple banks.<\/p>\n\n\n\n<p><strong>Lenders in line to invest<\/strong><\/p>\n\n\n\n<p>The company secured the debt through back to back approvals and raised $3 billion from 55 banks, and its subsidiary Jio bagged $2 billion from 18 lenders.<\/p>\n\n\n\n<p>Both loans come with the same terms, and will boost the expansion of 5G coverage in India along with Reliance&#8217;s capital expenditure.<\/p>\n\n\n\n<p><strong>Back on top<\/strong><\/p>\n\n\n\n<p>Chairman Mukesh Ambani has once again become Asia&#8217;s wealthiest man after Gautam Adani&#8217;s tumble.<\/p>\n\n\n\n<p>He is also the <a href=\"https:\/\/www.freepressjournal.in\/business\/mukesh-ambani-secures-biggest-loan-in-indias-corporate-history-at-5-billion-as-banks-line-up-to-fund-reliance\">only <\/a>Indian among the world&#8217;s top 10 billionaires and the richest sports franchise owner.<\/p>\n\n\n\n<p>Apart from capturing India&#8217;s telecom sector with Jio, the company is also looking to aggressively expand Reliance Retail.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2020, Reliance Industries had announced that it had become net-debt free after raising Rs 1.68 lakh crore via rights issue and investments. Largest corporate loan&nbsp; Major conglomerates including competitor Adani have been prepaying loans to address debt concerns among investors. In the latest development, Mukesh Ambani&#8217;s firm has raised the largest loan in India&#8217;s [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1244523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1343,243],"class_list":["post-1244509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-corporate-loans","tag-mukesh-ambani"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reliance Raises Rs 40,000 Crore From 73 Lenders: Biggest Loan In India&#039;s Corporate History! - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/reliance-raises-rs-40000-crore-from-73-lenders-biggest-loan-in-indias-corporate-history\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reliance Raises Rs 40,000 Crore From 73 Lenders: Biggest Loan In India&#039;s Corporate History! - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"In 2020, Reliance Industries had announced that it had become net-debt free after raising Rs 1.68 lakh crore via rights issue and investments. Largest corporate loan&nbsp; Major conglomerates including competitor Adani have been prepaying loans to address debt concerns among investors. 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