Indian billionaire Ambani's Reliance Industries eyes $1 bln debt fundraise, bankers say

By Dharamraj Dhutia MUMBAI, Sept 24 (Reuters) — Indian billionaire Mukesh Ambani's Reliance Industries is set to launch the second tranche of its planned mega fundraising through the sale of rupee-denominated bonds just a couple of weeks after it raised shorter-tenor debt, four merchant bankers told Reuters on Thursday. The oil-to-telecom conglomerate plans to raise around 100 billion rupees ($1.04 billion) through a sale of 10-year notes at an annual coupon of 7.90%. The company is set to invite bids from investors next week or the week after, according to bankers. The bankers requested anonymity as they are not authorised to speak to the media, while Reliance Industries did not immediately reply to a Reuters email seeking comment. "Ideally, the company would want to finish the borrowing before the central bank monetary policy decision on October 7," one of the bankers said. Two weeks ago, RelianceIndustries raised 120 billion rupees through a sale of five-year papers at an annual coupon of 7.47%. The raise marked the conglomerate's first rupee bond offering since November 2023, when it had raised 200 billion rupees in the largest local-currency debt sale by an Indian non-financia