Billionaire
Mukesh Ambani’s Reliance Industries is set to launch
the second tranche of its planned mega fundraising through the
sale of rupee-denominated bonds just a couple of weeks after it
raised shorter-tenor debt, four merchant bankers told Reuters on
Thursday.
The oil-to-telecom conglomerate plans to raise around ₹10,000 crore through a sale of 10-year notes
at an annual coupon of 7.90%. The company is set to invite bids from investors next week or the week after, according to bankers.
The bankers requested anonymity as they are not authorised
to speak to the media, while Reliance Industries did not
immediately reply to a Reuters email seeking comment.
“Ideally, the company would want to finish the borrowing
before the central bank monetary policy decision on October 7,”
one of the bankers said.
Two weeks ago, Reliance Industries raised ₹12,000 crore
through a sale of five-year papers at an annual coupon of 7.47%.
The raise marked the conglomerate’s first rupee bond offering
since November 2023, when it had raised ₹20000 crore in
the largest local-currency debt sale by an Indian non-financial
company at the time.
Large private-sector banks are likely acting as arrangers
for the new deal as well, and would be partly subscribing to
these bonds, the bankers said.
Relatively benign local bond yields have made such funding
through this route cheaper compared to US dollar debt, as
Treasury yields have witnessed a massive spike, the bankers
added.
The latest issuance would take the company’s outstanding
bonds to ₹54000 crore.
Published on September 24, 2026
