RIL share price: Stock in focus on Rs 12,500 crore bond sale report, Jio IPO update

Shares of Reliance Industries Ltd are in focus on Tuesday after a Bloomberg report quoting people familiar with the matter suggested that the oil-to-telecom major is planning to raise as much as Rs 12,500 crore ($1.3 billion) via local-currency bonds as early as next week. This, as per the report, would make it the largest listed deal in the market this year.

Besides, another Bloomberg report suggested RIL is set to hold meetings across the US, Singapore, Hong Kong, London and the Middle East, as it plans to formally kick off outreach for Jio Platforms' IPO.

In the case of fundraising, RIL plans to raise the funds through notes due in five years at a coupon of 7.47 per cent, Bloomberg quoted people asking not to be identified as the details are private.

Axis Bank Ltd, ICICI Bank Ltd, HDFC Bank Ltd and YES Bank Ltd are said to be the arrangers to the issuance, as per the Bloomberg report. The offer size is Rs 10,000 crore rupees with a greenshoe
option to raise another Rs 2,500 crore, as per the Bloomberg report.

It would be RIL's first offering since November 2023, according to data compiled by Bloomberg.

In the case of Jio IPO, the Bloomberg report suggested that deliberations are ongoing and details of the offering, including the size, valuation and timing, could change. Jio filed draft papers with SEBI on June 19 and received approval on August 28. Bloomberg noted the IPO comprised of issuance of as many as 27 crore fresh shares, which is equivalent to a dilution of 2.9 per cent of the company's equity.