Reliance raises $1.3B in unsecured debentures at 7.47%
What's the deal? Reliance IndustriesDealroom has a profile for this one. Try Dealroom → has raised US$1.63B (roughly $1.3 billion) through a private placement of unsecured, redeemable non-convertible debentures (NCDs). The company allotted 1,200,000 debentures on September 16, 2026, each with a face value of US$1.36K.
The terms: The debentures, designated "PPD Series Q," carry a coupon of 7.47% per annum over a five-year tenor, maturing September 16, 2031. They are unsecured, with no charge created over the company's assets and no special rights attached.
How big? The base issue was set at US$1.36B, with a green shoe option to retain oversubscription up to US$339.5M. Among post-IPO debt rounds in India's telecom sector over the past 48 months, the raise sits in the 91st percentile by size.
Credit backing: The NCDs earned top ratings — "CRISIL AAA/Stable" from CRISIL RatingsDealroom has a profile for this one. Try Dealroom → and "CARE AAA/Stable" from CARE RatingsDealroom has a profile for this one. Try Dealroom → — signalling a strong credit profile. They are set to list on both BSEDealroom has a profile for this one. Try Dealroom → and the National Stock Exchange of IndiaDealroom has a profile for this one. Try Dealroom →.
The signal: Large, top-rated corporates continue to tap the debt markets at favourable coupons, and Reliance's deal ranks among the larger such placements in its sector over the trailing four years. The AAA ratings and oversubscription option point to steady appetite for high-grade Indian corporate paper.
Read more: investywise.com
Image credit: Harshil.Shah
