Reliance raises $763 mn in block deal

Energy major Reliance Industries Ltd raised $763 million through a block sale of 33 million shares on Monday, the country head of UBS said on Monday. Manisha Girotra also said the share sale at 1,050 rupees each would be the last of block trades by the company for a while. UBS was the sole arranger for the trade. Reliance, which is bidding for bankrupt LyondellBasell Industries, had previously sold treasury shares to state-owned insurer Life Insurance Corp of India raising $577 million last week. A source last week said, Reliance had sweetened its offer to buy a controlling stake that ...

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