Reliance Industries to raise $1.85 bn from offshore lenders

Mukesh Ambani's Reliance Industries (RIL) on Wednesday said it has signed pacts with overseas lenders to avail long-term loans of $1.85 billion (around ₹12,800 crore). The funds would be used to finance capital expenditure in the normal course of its business. This comes amid reports of RIL planning to infuse as much as ₹20,000 crore into its telecom unit Jio.