Reliance Industries Plans $2.4 Billion Rupee Bond Issuance, Led by Mukesh Ambani

9th Nov Mumbai, India — Reliance Industries Ltd., headed by Indian billionaire Mukesh Ambani, is gearing up to secure a substantial 200 billion rupees (approximately $2.4 billion) through the issuance of rupee-denominated bonds, as reported in recent filings viewed by Bloomberg.

The bond sale comprises a base size of 100 billion rupees, complemented by the option to retain subscriptions worth an additional 100 billion rupees. These bonds, boasting a tenure of 10 years, are scheduled for auction on Thursday and have received AAA ratings with a stable outlook from esteemed rating agencies Crisil and CareEdge.

This forthcoming transaction, if successfully executed, is set to become Reliance's most substantial rupee bond sale to date, according to data compiled by Bloomberg. Notably, it marks the conglomerate's first foray into the domestic bond market since 2020, as corroborated by industry statistics. This development echoes a prior Bloomberg News report from last week, which outlined the Mumbai-based company's intentions to issue local-currency bonds.

Reliance Industries stands as India's largest company in terms of market value and maintains a diversified portfolio of business interests spanning petrochemicals refining, wireless communication services, and consumer goods. The conglomerate is rapidly expanding its footprint in emerging sectors such as 5G technology, green energy, and financial services, solidifying its position as a dynamic and forward-thinking player in India's corporate landscape.

With these rupee-denominated bonds, Reliance Industries continues to showcase its financial prowess and commitment to fueling its ambitious expansion into innovative sectors, all while bolstering its market presence.

Stay tuned for further updates on this significant financial move by one of India's corporate giants.