Mumbai, Jun 27 (IANS): Reliance Industries on Monday said that it will seek shareholder's approval to issue redeemable non-convertible debentures on private placement basis to raise Rs 25,000 crore.

The company told the BSE that it will hold its fortieth annual general meeting (AGM) on Friday, July 21, 2017 in Mumbai.

According to the agenda of the AGM, the company seeks shareholders approval to offer or invite subscriptions for secured, unsecured redeemable non-convertible debentures, in one or more series, tranches, of an aggregate nominal value up to Rs 25,000 crore, on private placement.

Further, the company will seek shareholders approval to declare a dividend at the rate of Rs 11 per equity share of Rs 10 each fully paid-up of the company for the financial year ended March 31, 2017.

Other important agenda items include re-appointment of Nita M. Ambani as a Director of the company. She retires by rotation at the upcoming AGM meet.