Tag: Reliance Industries Ltd

RIL up over 1% on plans to raise fund via NCDs

RIL up over 1% on plans to raise fund via NCDs

31/08/2017 12:05

Shares of Reliance Industries rose over 1 per cent on the Bombay Stock Exchange after Mukesh Ambani-led company said it will make an offer for issuing nonconvertible debentures (NCDs) worth Rs 2,500 crore next week.

Buoyed by fund raising plans, shares of the company gained as much as 1.52 per cent to hit intra-day high of Rs 1588.00 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 1583.95 against previous close price of Rs 1564.15.

In a similar fashion, shares of the company were trading 1.28 per cent higher at Rs 1,584.10 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 31,569.70, down 76.76 points, or 0.24 per cent, at 11:55 hours.

RIL raises $573 mn loan for 6 large ethane carriers

RIL raises $573 mn loan for 6 large ethane carriers

26/10/2016 11:46

Reliance Industries today said it has raised a term loan of USD 573 million to part finance construction of a six very large ships for transportation of ethane from the US.

The firm has ordered six very large ethane carriers (VLECs), the largest ethane vessels ever built in the world.

“The facilities (loan) with door to door tenor of 12 year comprise of a Korea Trade Insurance Corp (K-sure) insured tranche of USD 286.5 million and a commercial tranche of USD 286.5 million,” RIL said in a statement.

“The facilities shall be secured by collateral of respective VLECs.”

VLECs would transport ethane from US to Dahej in Gujarat. The gas will be used for feeding RIL’s crackers at Dahej, Hazira and Nagothane “to ensure consistent supply of ethane at competitive prices.”

The VLECs are financed in a debt-to-equity ratio of 80:20.

“Despite global slowdown in the shipping industry, both tranches of the facilities (loan) were oversubscribed by two times and saw participation from seven banks in K-sure covered tranche and six banks in the commercial tranche. This reflects the strong credit standing of RIL in the international financial markets,” it said.

Banks lending to RIL include The Hongkong and Shanghai Banking Corp Ltd, Standard Chartered Bank, Banc of America Leasing & Capital LLC, Australia and New Zealand Banking Group Ltd, Citibank, DBS Bank Ltd, BNP Paribas, Societe Generale, Sumitomo Mitsui Banking Corp, The Bank of Tokyo-Mitsubishi UFJ Ltd, Credit Agricole Corporate and Investment Bank and JP Morgan Chase Bank NA.

Reliance Industries re-starts PTA plant at Dahej

Reliance Industries re-starts PTA plant at Dahej

03/06/2016 16:45

Mukesh Ambani-led Reliance Industries Ltd (RIL) said on Friday that it has restarted its purified terephthalic acid (PTA) plants, and is ramping up production to full capacity at Dahej.

“Reliance Industries Limited (RIL) has restarted its purified terephthalic acid (PTA) plants, and is ramping up production to full capacity at Dahej,” the company said in a filing to the Bombay Stock Exchange on June 03, 2016.

Earlier, the company said that due to lower release of dam water and the significantly increased salinity of water supply to the company’s Dahej manufacturing complex (District Bharuch, Gujarat), there is shortage of the right quality of industrial water at Dahej complex. As a result, RIL is running on reduced capacity in some of the plants and has temporarily shut down its PTA and PET plants.

RIL ensured PTA supplies to downstream customers from its Hazira and Patalganga plants during the brief shutdown at Dahej.

Now, the customers will be getting PTA from all three locations, the company said in a statement.

Commenting on the development, RIL, Spokesperson said, “RIL has a total PTA capacity of 4.2 million tonnes per year. In India, the current total PTA capacity, including that of RIL, is 6 million tonnes. Another 1.2 million tonnes of PTA capacity will be added in the current year itself. However, the total PTA demand in India is around 5 million tonnes. Therefore, the surplus PTA is being exported as India has sufficient PTA to meet the requirements of its polyester industry.”

Meanwhile, shares of the company closed at Rs 957.95 apiece, up 0.20 per cent, from previous close on BSE.