Reliance Capital to raise Rs 10000 cr in current fiscal by selling assets

New Delhi, May 19: Cash-strapped Reliance Capital Saturday said it expects to raise Rs 10,000 crore by selling assets and cut down its debt by about 50 per cent in the current fiscal.
The company has been working diligently to ensure timely debt repayments and is regular in all its debt payments, Reliance Capital said in a statement. The company’s asset monetisation plan is on track, it said, adding, it is in the process of monetising its entire 42.88 per cent stake in Reliance Nippon Life Asset Management Limited, which at current market price is valued at over Rs 5,000 crore.
It has also announced its plans to monetise 49 per cent stake in Reliance General Insurance Company and the DRHP has recently been filed with Sebi.