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Reliance Industries Plans India’s Largest Listed Bond Sale
Reliance Industries wants to borrow money by selling bonds in India.
Bonds are a way for companies to borrow from investors and repay them later with interest.
The company may raise up to Rs 12,500 crore.
Most of the issue would be Rs 10,000 crore, with the option to raise another Rs 2,500 crore.
The bonds would last five years and are expected to pay 7.47% interest.
Four banks are helping arrange the sale.
If completed, it would be the biggest listed bond issue in India this year.
The sale could provide support to India’s bond market, where company borrowing has fallen compared with last year.
Reliance Industries plans to raise up to Rs 12,500 crore through five-year local-currency bonds as early as next week.
The proposed issue includes Rs 10,000 crore of base notes and a Rs 2,500 crore greenshoe option.
The bonds are expected to carry a 7.47% coupon, according to people familiar with the matter.
Axis Bank, ICICI Bank, HDFC Bank and YES Bank are the arrangers.
The offering would be the largest listed domestic bond sale this year and Reliance’s first since November 2023.
- Who
- Reliance Industries, led by billionaire Mukesh Ambani, is planning the bond issue, with Axis Bank, ICICI Bank, HDFC Bank and YES Bank as arrangers.
- What
- The company plans to raise up to Rs 12,500 crore through five-year local-currency bonds.
- Where
- The bonds would be issued in India’s domestic debt market.
- When
- The issue could take place as early as the week after September 8, 2026.
- Why
- Reliance is seeking financing, while the offering could also support India’s local bond market amid lower corporate bond borrowing.
Key facts
- Maximum issue size
- Rs 12,500 crore
- Base issue size
- Rs 10,000 crore
- Greenshoe option
- Rs 2,500 crore
- Bond maturity
- Five years
- Expected coupon
- 7.47%
- Proposed arrangers
- Axis Bank, ICICI Bank, HDFC Bank and YES Bank
- Publication date
- September 8, 2026
Sources
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