Reliance Industries eyes ₹10,000 crore debt fundraise
Reliance Industries eyes ₹10,000 crore debt fundraise
SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826
Billionaire Mukesh Ambani's Reliance Industries is set to launch the second tranche of its planned mega fundraising through the sale of rupee-denominated bonds just a couple of weeks after it raised shorter-tenor debt, four merchant bankers told Reuters on Thursday.
The oil-to-telecom conglomerate plans to raise around ₹10,000 crore through a sale of 10-year notes at an annual coupon of 7.90%. The company is set to invite bids from investors next week or the week after, according to bankers.
The bankers requested anonymity as they are not authorised to speak to the media, while Reliance Industries did not immediately reply to a Reuters email seeking comment.
"Ideally, the company would want to finish the borrowing before the central bank monetary policy decision on October 7," one of the bankers said.
Two weeks ago, Reliance Industries raised ₹12,000 crore through a sale of five-year papers at an annual coupon of 7.47%. The raise marked the conglomerate's first rupee bond offering since November 2023, when it had raised ₹20000 crore in the largest local-currency debt sale by an Indian non-financial company at the time.
Large private-sector banks are likely acting as arrangers for the new deal as well, and would be partly subscribing to these bonds, the bankers said.