Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. (RIL) is reportedly seeking to raise as much as $2.4 billion (₹200 billion) through rupee-denominated bonds.
The base size of the sale is ₹100 billion with an option to retain subscriptions worth another ₹100 billion, Bloomberg reported, citing regulatory filings by the company.
The 10-year bonds will be auctioned on Thursday and are rated AAA with a stable outlook by rating companies Crisil and CareEdge, the report said.
The transaction, once concluded, would be the biggest rupee sale ever for Reliance, according to Bloomberg-compiled data.
It would also be the conglomerate’s first domestic bond since 2020, according to the statistics. Bloomberg last week reported that the Mumbai-based RIL was planning to sell local-currency bonds.
Reliance Industries is India’s largest company by market value, and its business interests range from petrochemical refining to wireless communication services and consumer goods.
It is expanding rapidly into 5G and venturing into new areas like green energy and financial services.
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