Reliance Group plans ₹10,000 cr notes backed by rental income
Business
Mukesh Ambani's Reliance Group is planning to raise ₹10,000 crore (about $1 billion) by selling asset-backed securities: basically, financial notes supported by rental income from companies like Reliance Jio.
Barclays is handling the deal, and the notes will pay investors around 8.35% to 8.40% interest over five years.
Reliance raised ₹21,000 cr last year
This isn't Reliance's first rodeo: they raised ₹21,000 crore with a similar strategy last year and recently pulled in more funds through bonds at competitive rates.
Moves like this are helping India's asset-backed securities market hit record highs (₹1.53 lakh crore as of March), making it a hot spot for companies looking for new ways to raise money.