Reliance Industries seeks up to ₹10,000cr 10-year AAA-rated bonds
Reliance Industries, Mukesh Ambani's company, is looking to raise up to ₹10,000 crore (about $1 billion) through new local-currency bonds, its second big borrowing move this month.
These 10-year AAA-rated bonds could offer a 7.90% interest rate, just below the usual average for similar bonds.
Reliance taps bonds as RBI tightens
Earlier in September, Reliance already raised ₹12,000 crore with five-year bonds at a 7.47% rate.
With inflation risks rising (thanks in part to high oil prices), companies like Reliance are turning to bond markets as the Reserve Bank of India (RBI) tightens money supply: RBI cut surplus liquidity from ₹11 trillion down to ₹4.2 trillion recently.
All these shifts mean Reliance is making strategic moves to manage its debt and stay ahead in a changing market.