Reliance to raise Rs 10,000 crore next week as companies rush to tap surplus bank liquidity
Mumbai: Reliance Industries Limited (RIL) is likely to raise ₹10,000 crore next week with a 10-year maturity at a coupon rate of 7.85-7.90%, after other companies, including Adani Airport Holdings, collectively raise more than ₹14,500 crore this Friday.
Adani Airport alone is set to raise ₹1,000 crore on Friday for three years at a rate of 8.96%. The rush to raise debt is being driven by surplus liquidity in the banking system, with companies looking to tap the available funds ahead of the Reserve Bank of India‘s monetary policy decision on October 7.
On Friday, Small Industries Development Bank of India will raise up to ₹6,000 crore for three years and Aditya Birla Capital will raise ₹1,000 crore for the same maturity, while JSW Energy will raise ₹500 crore for seven years.
