Reliance Retail Boosts FY26 Profit via Zero‑Coupon Debenture Swap
Reliance Retail’s FY26 profit jumped ₹3,503 cr to ₹13,476 cr, driven largely by converting a ₹40,000 cr inter‑company loan into zero‑coupon optionally fully convertible debentures (OFCDs). The swap slashed finance costs by about ₹8,000 cr, shifting earnings from the holding firm to the operating retailer and bolstering its financial health ahead of a potential listing.