SBI takes almost 40% of Reliance Industries's ₹13,000cr bond issue
Business
SBI snapped up almost 40% of Reliance Industries's new ₹13,000 crore bond issue, making it the top investor.
Reliance is raising this money as a smart way to prep for possible changes in Reserve Bank of India policy.
AAA rated bonds carry 7.90% coupon
These bonds come with a 7.90% annual coupon and got the safest AAA rating from top agencies, so they're pretty low risk.
Alongside SBI, big names like ICICI Prudential Mutual Fund and SBI Pension Fund also invested.
This is part of a bigger trend: Indian companies like Reliance, Delhi Airport, and Vedanta are all turning to rupee bonds lately to lock in better borrowing rates.