Reliance Industries targets ₹10,000 crore via asset-backed securities deal

Reliance Industries is planning to raise up to ₹10,000 crore ($1 billion) through an asset-backed securities (ABS) deal. The notes, which would have a five-year tenor, are reportedly backed by rent from group companies, including Reliance Jio Infocomm. Barclays is currently the only bank arranging the deal, which features an expected annual interest rate of 8.35% to 8.40%.

Separately, the conglomerate is proceeding with a ₹12,000 crore, 10-year bond issue at a 7.9% coupon rate. Following news of these debt market activities, Reliance Industries shares saw an intraday rise of 0.95%, trading at ₹1,193.20. The stock's upward movement comes as it tests support levels near its 52-week low.