<p>Shares of Reliance Industries on Friday gained over 5 per cent after the company mopped up Rs 8,500 crore from the sale of non-convertible debentures (NCDs).</p>.<p>The scrip jumped 4.82 per cent to close the day at Rs 1,225.05 on the BSE. Intra-day, it climbed 5.23 per cent to Rs 1,229.90.</p>.<p>ON the NSE, it closed at Rs 1,229.90, a gain of 5.29 per cent.</p>.<p>In terms of volume, 5.59 lakh shares were traded on the BSE and about 1.52 crore on the NSE.</p>.<p>Reliance Industries has mopped up Rs 8,500 crore from the sale of non-convertible debentures, cashing in on the cheaper funds flooding the debt market that is starved of quality paper, priced it at 7.20 per cent.</p>.<p>The debt market is flushed with money after the Reserve Bank of India (RBI) opened a special repo operation called the targeted long term repo operations (TLTRO) on March 27, which offers banks funds at the repo rate which is currently pegged at 4.40 per cent.</p>.<p>Reliance Industries (RIL) offer gives a coupon of 280 bps premium on the repo rate.</p>.<p>RIL has mopped up Rs 8,500 crore from an NCD issue on Friday. The issue consists of a three-year fixed tenor tranche of Rs 4,000 crore offering 7.20 per cent coupon, and a Rs 4,500-crore floating rate tranche offering 7.2 per cent, which is a 280-bps spread over the repo rate, a market source told PTI.</p>.<p>The issue, which had hit the market on Thursday, has been mostly subscribed by State Bank of India, HDFC Bank, ICICI Bank and Axis Bank, the source added. </p>
<p>Shares of Reliance Industries on Friday gained over 5 per cent after the company mopped up Rs 8,500 crore from the sale of non-convertible debentures (NCDs).</p>.<p>The scrip jumped 4.82 per cent to close the day at Rs 1,225.05 on the BSE. Intra-day, it climbed 5.23 per cent to Rs 1,229.90.</p>.<p>ON the NSE, it closed at Rs 1,229.90, a gain of 5.29 per cent.</p>.<p>In terms of volume, 5.59 lakh shares were traded on the BSE and about 1.52 crore on the NSE.</p>.<p>Reliance Industries has mopped up Rs 8,500 crore from the sale of non-convertible debentures, cashing in on the cheaper funds flooding the debt market that is starved of quality paper, priced it at 7.20 per cent.</p>.<p>The debt market is flushed with money after the Reserve Bank of India (RBI) opened a special repo operation called the targeted long term repo operations (TLTRO) on March 27, which offers banks funds at the repo rate which is currently pegged at 4.40 per cent.</p>.<p>Reliance Industries (RIL) offer gives a coupon of 280 bps premium on the repo rate.</p>.<p>RIL has mopped up Rs 8,500 crore from an NCD issue on Friday. The issue consists of a three-year fixed tenor tranche of Rs 4,000 crore offering 7.20 per cent coupon, and a Rs 4,500-crore floating rate tranche offering 7.2 per cent, which is a 280-bps spread over the repo rate, a market source told PTI.</p>.<p>The issue, which had hit the market on Thursday, has been mostly subscribed by State Bank of India, HDFC Bank, ICICI Bank and Axis Bank, the source added. </p>