News From Press ₹35,000-cr jackpot for debt funds, thanks to Reliance’s fundraising

₹35,000-cr jackpot for debt funds, thanks to Reliance’s fundraising

Source: The Hindu BusinessLine Jul 18, 2020

Reliance Industries, the conglomerate owned by Asia’s richest man, is plowing billions into Indian debt funds after receiving cash from stake sales and a rights issue, according to people with knowledge of the matter. The monies have been deployed into ultra-short and money-market funds, and others focused on debt with an average of three-to-five year maturities, according to fund managers who asked not to be identified in discussing investment details.

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