Reliance Industries plans Rs 12,500-crore bond sale

Reliance Industries is planning to launch a Rs 12,500-crore five-year bond issue in the domestic debt market as early as next week. If successful, this would represent the largest listed corporate bond issuance in India this year.

The proposed issue is expected to have a base size of Rs 10,000 crore with a greenshoe option of Rs 2,500 crore. Sources indicate a proposed coupon of 7.47%, which is lower than the average yield of approximately 7.87% for similar AAA-rated corporate bonds.

This fundraising follows recent regulatory approval for its subsidiary, Jio Platforms, to launch what is expected to be India’s largest IPO on record, aiming to raise nearly Rs 38,000 crore. Major banks, including Axis Bank, HDFC Bank, ICICI Bank, and Yes Bank, are reportedly acting as lead arrangers for the bond issue.