Considers record bond sale of ₹1.5 lakh crore by Reliance Industries

Reliance Industries Ltd., the Indian tycoon Mukesh Ambani’s company, is contemplating selling a local-currency bond for as much as 150 billion rupees ($1.8 billion), according to people familiar with the situation who asked not to be named because the information is confidential.

According to data provided by Bloomberg, should the transaction proceed, it would represent Reliance’s largest-ever rupee sale. Based on the data, it would also be the conglomerate’s first domestic bond since 2020.

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Reliance Industries, the largest corporation in India based on market valuation, has an excellent credit rating from S&P Global’s Indian affiliate, Crisil Ratings. Its commercial interests include consumer items, wireless communication services, and petrochemical processing. It is growing quickly in both established industries, like 5G services, and emerging ones, like financial services and green energy.

When Bloomberg called a Reliance Industries spokesperson on Wednesday, the company did not immediately respond.