Reliance Retail aims to double borrowing cap to ₹1 lakh crore

Reliance Retail will seek shareholder approval to double its borrowing limit to ₹1 lakh crore as it presses the pedal on future growth and expansion. Its borrowings as on March 31, 2022 stood at ₹40,000 crore and an increase in the borrowing limit will give it the headway to raise up to ₹ 60,000 crore as debt.

The company will seek shareholder approval in its upcoming annual general meeting on September 30 to raise the limit currently set at ₹50,000 crore “for the purpose of the business of the company,” Reliance Retail’s latest annual report said.