Feb 24 2021, 2:20 PM
February 23 2021, 8:26 AM
February 24 2021, 2:20 PM
(Bloomberg) -- Reliance Industries Ltd. has started carving out its new oil-to-chemicals operation into an independent unit with a $25 billion loan from the parent, as billionaire Mukesh Ambani steps up efforts to unlock the value of his businesses.
(Bloomberg) -- Reliance Industries Ltd. has started carving out its new oil-to-chemicals operation into an independent unit with a $25 billion loan from the parent, as billionaire Mukesh Ambani steps up efforts to unlock the value of his businesses.
The wholly owned unitâs assets will be funded by the interest-bearing loan, which will be an âefficient mechanism to upstream cash, including any potential capital receipts,â in the unit, according to a company presentation filed with the stock exchanges.