According to industry sources, Reliance Retail Ventures and Reliance Jio have raised about Rs 85 billion working capital loans collectively through short-term money market instruments. While Reliance Retail Ventures likely sold CPs worth Rs 55 billion, Jio issued CPs for Rs 30 billion.
Meanwhile, the companies reportedly sold commercial papers (CPs) that offered 5.99 per cent and 5.92 per cent, respectively, with about 90-day maturities.
The companies are triple-A rated and their CPs are marked as A1+, which is billed as top grade in the CP market.
