Reliance Industries lists existing foreign currency bonds on India INX

A man walks past a Reliance Industries Limited sign board installed on a road divider in Gandhinagar (REUTERS) — A man walks past a Reliance Industries Limited sign board installed on a road divider in Gandhinagar **(REUTERS)**

1 min read . Updated: 17 Feb 2022, 03:33 PM IST Livemint

The securities include the $4 billion worth jumbo bonds that Reliance Industries (RIL) had raised in January 2022

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India's top valued company Reliance Industries Ltd (RIL) has listed its existing foreign currency bonds aggregating over $7 billion on India INX, making it the largest such listing by a private entity in India INX and GIFT IFSC. The securities include the USD 4 billion worth jumbo bonds raised in January 2022, which was termed as the largest ever foreign currency bond issuance by an Indian entity.

Last month, the Mukesh Ambani-led conglomerate had announced that it has raised $4 billion in US dollar bond issuance in three-tranches, the largest ever foreign currency bond issuance from India. The Notes were nearly 3 times oversubscribed with a peak orderbook aggregating around $11.5 billion and were priced through RIL’s secondary curve.

The latest listing will give confidence to various other corporates to follow, V Balasubramaniam, MD and CEO of India INX, said in a statement on Thursday. Currently, the total bond listings on the exchange are at over $41 billion, he added.

India INX, BSE’s international arm, commenced its trading activities on January 16, 2017 and is India’s first International Exchange set up at GIFT IFSC. The exchange provides electronic platform to facilitate trading, clearing and settlement of the widest range of global benchmark products across all major asset classes, including securities, equity derivatives, precious metals, base metals, energy and bonds.

"We are delighted to list our existing foreign currency bonds, including the recent landmark USD 4 billion jumbo bond issuance, at the India INX," Srikanth Venkatachari, Joint Chief Financial Officer of RIL, said.

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"The listing framework and the seamless process is comparable with what is offered at any global financial centre. We look forward to a long-term association with India INX," he added.

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