Reliance Retail seeks to double borrowing limit to Rs 1 trillion

Reliance Retail will soon seek shareholders’ approval to double its borrowing limit to Rs 1 trillion from Rs 50,000 crore now for future growth and expansions. The company’s borrowings as on March 31, 2022, stood at Rs 40,756.44 crore and the increase in the borrowing limit will give it the headway to raise up to Rs 60,000 crore as debt.

According to Reliance Retail’s latest annual report, the company will seek shareholders’ approval in its upcoming annual general meeting on September 30 to raise the limit presently “for the purpose of the business of the company”.