Reliance’s ₹13,000 crore bond issue draws strong demand; SBI said to be largest investor
The issue included a green shoe option of ₹1,000 crore
Reliance Industries successfully issued ₹13,000 crore in 10-year bonds on Wednesday, with bids exceeding the base issue size of ₹12,000 crore by ₹3,000 crore. The green shoe option allowed underwriters to sell an additional ₹1,000 crore. The issue attracted 80 qualified institutional buyers and one non-QIB investor, with State Bank of India emerging as the largest investor, purchasing bonds worth approximately ₹5,000 crore, or around 40% of the offering.
Other major investors included ICICI Prudential Mutual Fund, SBI Pension Fund, and ICICI Prudential Life Insurance. The bonds carry a 7.90% coupon and are rated AAA by Crisil and CareEdge. Market participants noted the scarcity of long-tenor, high-quality corporate debt, making the issue attractive to banks, insurers, and pension funds.
This transaction follows Reliance's earlier ₹12,000 crore five-year bond issue at a 7.47% coupon, highlighting the continued demand for the company's bonds despite recent volatility in debt markets.
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