Reliance Industries Raises ₹13,000 Crore Through 10-Year Bonds At 7.90%
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Reliance Industries has raised ₹13,000 crore through 10-year bonds at 7.90%, taking its total domestic rupee bond fundraising in September to ₹25,000 crore.
Reliance Industries Limited (RIL) has raised ₹13,000 crore through 10-year bonds carrying a coupon rate of 7.90%. The latest fundraising takes the company’s domestic rupee bond borrowings in September to ₹25,000 crore.
The borrowing comes amid expectations of a possible interest rate hike by the Reserve Bank of India (RBI), while borrowing costs remain under pressure.
₹13,000 Crore Bond Issue Attracts Strong Demand
Of the RIL’s total issue, ₹3,500 crore was allocated to anchor investors. The anchor portion attracted participation from major mutual funds, insurance companies and pension funds.
The remaining ₹9,500 crore was raised through the non-anchor portion of the issue. The issue received aggregate bids exceeding ₹15,000 crore against a base issue size of ₹12,000 crore, with a ₹1,000 crore greenshoe option.
The bonds were priced at ₹100.02, while the weighted average price stood at ₹100.0662. Both figures were above the ₹100 face value. The issue attracted bids from 80 qualified institutional buyers (QIB) and one non-QIB participant.
RIL Locks In Long-Term Funding
The latest borrowing follows RIL’s ₹12,000 crore five-year bond issue earlier in September. That issue carried a coupon rate of 7.47%.
RIL’s September fundraising of ₹25,000 crore marks its largest monthly borrowing from the domestic bond market. It exceeds the ₹20,000 crore 10-year non-convertible debenture issue raised by the company in November 2023.
The latest transaction comes as corporate bond markets face pressure from expectations of tighter monetary policy, elevated crude oil prices, rupee weakness and higher global bond yields. The company is also reportedly considering a large securitisation transaction.
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Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
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