Reliance Industries Ltd, among the biggest forex loan borrowers in India, is set to tap the foreign debt market to raise $2.7 billion to refinance its existing high-cost debt. RIL spent around ₹ 22,000 crore as capital expenditure on Reliance Jio Infocomm Ltd in the June quarter, and reported a net income of ₹ 9,459 crore in the same period. In Q1 FY19, RIL had an outstanding debt of ₹ 242,116 crore, up from ₹ 218,763 crore in the previous three months. Cash in hand marginally rose to ₹ 79,492 crore in the June quarter.
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