Anil Ambani-led Reliance Capital has raised long-term financing of Rs 4,000 crore, investment banking sources said.
The funds have been raised through securitisation of asset pool of the group’s two firms — Reliance Home Finance and Reliance Commercial Finance, they added.
When contacted, a Reliance Capital spokesperson declined to comment on the development.
The assets have been purchased by public as well as private sector banks.
State Bank of India (SBI), ICICI Bank, Central Bank, Bank of Baroda and Bank of India were among the participating banks, sources said.
Reliance Capital last month said that it was aiming to reduce its debt by exiting all non-financial businesses in its portfolio in the next 12-18 months.
“We want to dramatically reduce debt at the Reliance Capital, the parent company, level, considering it is a core investment company,” the company’s chairman Ambani told shareholders at the company’s 32nd annual general meeting.