India (Commonwealth) _ The international media claimed that Reliance Industries Ltd., owned by Indian billionaire Mukesh Ambani, is attempting to raise as much as 200 billion rupees ($2.4 billion) through bonds priced in rupees.
With the option to keep subscriptions for an additional 100 billion rupees, the transaction has a base size of 100 billion rupees. The 10-year bonds, which have a stable outlook and a AAA rating from rating agencies Crisil and CareEdge, are scheduled to go up for auction on Thursday.
According to statistics provided by Bloomberg, if the transaction is completed, it will be Reliance’s largest rupee sale ever. Based on the data, it would also be the conglomerate’s first domestic bond since 2020. The documents support a story from Bloomberg News from last week that the Mumbai-based business intended to provide bonds denominated in local currency.
With a business portfolio that includes consumer products, wireless communication services, and petrochemical refining, Reliance Industries is the largest firm in India based on market value. It is fast growing into 5G and branching out into new markets like financial services and renewable energy.
Mumbai is home to the global Indian corporation Reliance Industries Limited. Energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles are among its industries. In terms of revenue and market capitalization, Reliance is the biggest publicly traded corporation in India and the 100th largest globally.7% of all merchandise exports from India are made by this greatest exporter and private tax payer in the country. The business has a high level of corporate debt and very little free cash flow.
RIL has around 644.51 crore (6.44 billion) shares outstanding. The Ambani family, the promoter group, owns 50.39% of the total shares, with public shareholders, including FII and corporate organizations, holding the remaining 49.61%.39].With 6.49% of the company’s shares, Life Insurance Corporation of India is the biggest non-promoter stakeholder.
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The corporation declared in January 2012 that it will repurchase up to 12 crore (120 million) shares for ₹10,400 crore (US$1.5 billion). By the end of January 2013, the business has paid ₹3,366 crore (US$420 million) for the repurchase of 4.62 crore (46.2 million) shares.
The National Stock Exchange of India Limited (NSE) and the BSE Limited both list the company’s equity shares. The London Stock Exchange lists the company’s Global Depository Receipts (GDRs).About 5.6 crore (56 million) GDRs have been issued, with each GDR being worth two equity shares in the business. Its overall share count is registered on the Luxembourg Stock Exchange at about 3.46%.
The National Stock Exchange of India Limited (NSE) Wholesale Debt Market (WDM) is where its debt securities are listed. It has been assigned a AAA domestic credit rating by Fitch and CRISIL, a division of S&P. The company’s foreign debt has been rated as investment grade by Moody’s and S&P, with a Baa2 positive outlook (local currency issuer rating).
The company’s primary commercial activities are connected to petrochemicals, refining, and oil and gas; its other businesses include retail, telecommunications, clothing, and the creation of special economic zones (SEZs). Refining accounted for 76% of its revenue in 2012–13, with petrochemicals contributing 19%, oil and gas contributing 2%, and other businesses contributing 3%.
RIL announced in July 2012 that it would invest $1 billion US over the following few years in its new aerospace division. This division will be responsible for designing, developing, and manufacturing aircraft, engines, radars, avionics, and accessories for military and civilian aircraft, helicopters, unmanned aerial vehicles, and aerostats. The corporation had 234 subsidiary companies and 11 affiliate companies as of March 16, 2023.
