Reliance Industries Seeks ₹25,500 Crore Loan to Settle Dues: Report
Reliance seeks ₹25,500 crore loan for debt, marking largest offshore borrowing from India this year
Reliance Industries seeks ₹25,500 crore loan to settle dues, potentially largest offshore loan from India
Mukesh Ambani-led Reliance Industries Limited (RIL) is reportedly in talks to secure a $3 billion (approx. ₹25,500 crore) loan. If approved, this could become the largest offshore loan from India in over a year, according to a report by Bloomberg.
Headquartered in Mumbai, RIL is negotiating with around six banks to finalize the terms of the loan. The company plans to syndicate the loan to a broader market by the first quarter of 2025.
The funds will be used to settle debts, but the exact lending terms are still being discussed and could change. Reliance faces $2.9 billion worth of debt repayments next year.
This potential borrowing would mark RIL’s return to the offshore loan market. Last year, the conglomerate raised $8 billion (approx. ₹700 crore) in what was then a record loan for an Indian borrower. About 55 banks participated in that deal, highlighting the strong demand for involvement in Reliance’s transactions.
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The report comes as the Indian rupee recently hit an all-time low against the US dollar due to continued outflows from local equities. Despite this, RIL remains highly rated, holding a credit rating higher than India’s sovereign grade.
Last week, Moody’s reaffirmed its Baa2 rating for Reliance, citing the company’s solid financial position. The agency noted that RIL’s credit metrics remain strong despite its significant capital spending.
Reliance’s financial health and reputation for securing top-tier credits make it an attractive borrower for banks globally. However, the weakening rupee and uncertain economic conditions could impact the final deal.
The loan would help RIL manage its debt while continuing its growth plans. The company has consistently shown financial strength, setting benchmarks in offshore borrowing for Indian firms.
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