Mukesh Ambani-led Reliance to raise ₹10,000cr 10-year bonds at 7.90%
Business
Reliance Industries, led by Mukesh Ambani, is gearing up to raise ₹10,000 crore by issuing rupee bonds.
This move follows its recent ₹12,000 crore fundraising and shows Reliance doubling down on long-term investments:
these new bonds will run for 10 years at a 7.90% annual interest rate.
Reliance seeks closure before October 7
Reliance wants to wrap up this bond sale before the central bank's monetary policy decision on October 7, making the most of the current market vibe where local bond rates look better than US ones.
Once this sale goes through, Reliance's total outstanding bonds will hit ₹54,000 crore.
Big private banks are expected to help arrange the deal and might even invest themselves.