Reliance's ₹12,500 cr hunt starts with a bond for mkts
Reliance Industries, India's largest company by market value, is raising ₹12,500 crore through a five-year bond issue, with major banks such as Axis Bank, HDFC Bank, ICICI Bank, and Yes Bank arranging the transaction, according to bankers. The bonds are expected to be priced at around 7.47%, with Axis Bank anticipated to have the largest allocation followed by ICICI Bank, HDFC Bank, and Yes Bank.
The bond issue will close on September 18 and comprises a base size of ₹10,000 crore and a ₹2,500 crore greenshoe option. About ₹3,000 crore of the issue has been placed with anchor investors, while the remaining portion has been fully subscribed. This marks Reliance Industries' first major bond issue in the domestic market since 2023, with its previous retail bond issue in 2023 attracting significant participation from Life Insurance Corporation of India.
The transaction comes after Indian banks mobilized a record amount of $127.2 billion through foreign currency deposits under the RBI's special swap facility by August 31, with total inflows reaching $136.4 billion.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
