The India’s largest private sector company Reliance Industries has raised 1.5 mn dollars in the sale of debt notes by its U.S subsidiary and is quoted as “India’s largest ever corporate debt sale” . This is reliance’s second attempt of raising money in $ , the first time being in 1997. The sale was a great success as it was oversubscribed 7.8 times. The notes are said to be due in 2020 and 2040 with interest of 4.5 and 6.5% respectively. these generated funds as said by company sources,would be used for refinancing existing debts , for further investments and expansion purposes.