India's largest conglomerate, Reliance Industries Ltd (RIL) has said that it has raised about $800 million or about Rs 4,300 crore in long-term debt through perpetual dollar bonds.

RIL said that it will use the funds raised through the bonds to expand its operations in the infrastructure sector. It will party fund the Rs 1 lakh crore capital expenditure programme that was announced by the company in the previous year. The capital expenditure programme is aimed at expanding its petrochemicals business and expanding its oil and gas exploration activities.

The company said that the notes do not have a fixed maturity date but the company will have an option to partly or wholly redeem the notes on any semi-annual interest payment date on or after 5 February 2018 at 100 per cent of the principal amount added with accrued interest.

The shares of the company, which has an equity capital of Rs. 3228.48 crore, hit a high of Rs. 902.85 and a low of Rs 886.35 on the Bombay Stock Exchange (BSE). The shares of the company have outperformed the market during the previous one year, increasing 8.80 per cent as against Sensex's rise of 7.27 per cent.