Mukesh Ambani's Reliance Industries reportedly seeks Rs 25,000 crore loan for debt refinancing
Reliance Industries, owned by Mukesh Ambani, is reportedly negotiating a $3 billion loan with six banks to refinance $2.9 billion in debt maturing next year.
FollowReliance Industries, owned by India's richest man Mukesh Ambani, is reportedly negotiating a $3 billion (Rs 25,457 crore) loan with around six banks to refinance debt set to mature next year. While the loan is being arranged, Reliance has yet to issue an official comment on the development.
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According to a Bloomberg report, Reliance Industries currently has an outstanding debt of approximately $2.9 billion, including interest, that will need repayment next year. The new loan would provide the necessary financial flexibility to address this debt.
Mukesh Ambani’s Reliance Industries remains one of India’s most valuable companies, with a market valuation of Rs 17.75 lakh crore. The company’s consolidated market capitalization has surpassed Rs 2 lakh crore, with Reliance's market value alone increasing by Rs 26,185 crore to reach Rs 17.75 lakh crore.
This loan discussion comes at a time when the Indian rupee is weakening steadily against global currencies. Notably, Reliance Industries maintains a credit rating that is higher than India’s sovereign grade—a rare instance where a company's creditworthiness exceeds that of its home country.
According to Forbes, Mukesh Ambani is the richest man in Asia with a net worth of USD 100.9 billion.
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