RIL's $4-bn forex bond: India Inc's fundraising in 2022 begins with a bang

Renew Power, Shriram have queued up to raise dollar bonds after RIL raises $4 bn in India's largest-ever foreign currency bonds issue

The jumbo dollar fund raising by Mukesh Ambani’s Reliance Industries has set the tone for other Indian corporates and banks for the rest of the year. Bankers expect the Reliance issue, with its size, tenor and pricing will encourage India Inc to start raising funds, particularly as growth momentum picks up over the next two quarters.

After RIL, Renew Power has also entered the market for a $500-million fundraise and Shriram Transport has also now evinced interest to raise funds via dollar denominated bonds.

Largest in SE Asia

There are three important dimensions from the RIL’s $4-billion bond fundraise, which