<p><em>By Chien Mi Wong and Saikat Das</em></p> <p>Billionaire <a href="https://www.deccanherald.com/tags/mukesh-ambani">Mukesh Ambani</a>-owned <a href="https://www.deccanherald.com/tags/reliance">Reliance Industries</a> is in talks with banks for a borrowing of as much as $3 billion (Rs 25,441 crore), in what could potentially be the largest offshore loan from India in over a year.</p><p>About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025, the people said, who asked not to be named as discussions are private. Terms for the facility, which will refinance debt due next year, have not been finalized yet and could be subject to changes, the people added. </p>.Reliance not in business of short-term profit, says Mukesh Ambani.<p>Reliance Industries has approximately $2.9 billion (Rs 24,592 crore) worth of debt due in 2025, including interest payments, according to data compiled by <em>Bloomberg News</em>. A spokesperson for the group didn’t immediately respond to a request seeking comment. </p><p>If the borrowing goes through, it would mark Reliance Industries’ return to the offshore market since 2023, when the group raised over $8 billion (Rs 67,840 crore) in loans, a record for an Indian borrower then. Those facilities, which were for the parent and subsidiary Reliance Jio Infocomm Ltd., drew about 55 lenders in total as banks looked to join deals of top-tier credits, according to <em>Bloomberg</em>-compiled data. </p><p>The new loan comes amid continued weakening of the Indian rupee, which hit a record low against the dollar last month, due to ongoing outflows from local equities.</p>
<p><em>By Chien Mi Wong and Saikat Das</em></p> <p>Billionaire <a href="https://www.deccanherald.com/tags/mukesh-ambani">Mukesh Ambani</a>-owned <a href="https://www.deccanherald.com/tags/reliance">Reliance Industries</a> is in talks with banks for a borrowing of as much as $3 billion (Rs 25,441 crore), in what could potentially be the largest offshore loan from India in over a year.</p><p>About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025, the people said, who asked not to be named as discussions are private. Terms for the facility, which will refinance debt due next year, have not been finalized yet and could be subject to changes, the people added. </p>.Reliance not in business of short-term profit, says Mukesh Ambani.<p>Reliance Industries has approximately $2.9 billion (Rs 24,592 crore) worth of debt due in 2025, including interest payments, according to data compiled by <em>Bloomberg News</em>. A spokesperson for the group didn’t immediately respond to a request seeking comment. </p><p>If the borrowing goes through, it would mark Reliance Industries’ return to the offshore market since 2023, when the group raised over $8 billion (Rs 67,840 crore) in loans, a record for an Indian borrower then. Those facilities, which were for the parent and subsidiary Reliance Jio Infocomm Ltd., drew about 55 lenders in total as banks looked to join deals of top-tier credits, according to <em>Bloomberg</em>-compiled data. </p><p>The new loan comes amid continued weakening of the Indian rupee, which hit a record low against the dollar last month, due to ongoing outflows from local equities.</p>