Reliance Industries raises ₹13,000 crore via 10-year bond issue with green shoe option

According to NSE Electronic Bidding Platform data, the cut-off price was set at ₹100.02 and the weighted average price at ₹100.0662, both above the face value of ₹100, indicating that investors were willing to pay a premium. A total of 80 qualified institutional buyers and one non-qualified institutional buyer participated in the bidding process.

The ₹3,500-crore anchor portion of the issue was subscribed by 16 investors. State Bank of India emerged as the largest investor, allocating nearly ₹5,000 crore, or about 40% of the total offering. Other notable participants included ICICI Prudential Mutual Fund, SBI Pension Fund, and ICICI Prudential Life Insurance.

The bonds carry a coupon rate of 7.90% per annum and have been accorded AAA ratings by Crisil and CareEdge. Market observers noted that the scarcity of long-tenor, high-quality corporate debt in the current environment made the issue particularly attractive to banks, insurers, and pension funds.

This fundraising follows Reliance’s earlier ₹12,000-crore five-year bond issue in the same month, which carried a coupon of 7.47%. Despite recent volatility in debt markets that has prompted some issuers to delay offerings, Reliance’s successful tap of the market underscores continued investor confidence in its credit profile.