Rs 242150000000 from 55 Banks: Mukesh Ambani’s Reliance Secures India’s Biggest Loan; What Will Reliance Use the Money For?
Rs 242150000000 from 55 Banks: Mukesh Ambani’s Reliance Secures India’s Biggest Loan; What Will Reliance Use the Money For?
The dual-currency syndicated loan marks Reliance’s first overseas borrowing since 2023, amid plans for major investment in new energy, retail, and technology.
Mumbai: Mukesh Ambani-led Reliance Industries has secured a massive $2.9 billion (approx. ₹24,215 crore) offshore loan, the largest syndicated loan by any Indian company in over a year and Asia’s biggest deal in 2025 so far, according to a Bloomberg report.
The syndicated financing, finalised on May 9, was structured in two parts, a $2.4 billion tranche and another worth 67.7 billion yen (approx. $462 million). The deal drew participation from around 55 banks, forming the most extensive lender group for any such loan in Asia this year.
The loan comes at a time when Reliance is ramping up investments across key sectors including digital services, retail, and its ambitious New Energy division. In his 2024 AGM speech, Ambani announced plans to propel Reliance from one of the top 50 global companies to the top 30, with a sharp focus on advanced technology, manufacturing, and sustainable energy.
Some key investment plans include:
- 55 compressed biogas plants by 2025
- A pilot project on integrated energy farming
- Expansion in PVC, CPVC, and specialty polyester production by 2026–27
- Scaling up the New Energy vertical to rival the size and profitability of its Oil-to-Chemicals business within 5–7 years
Why Did So Many Banks Say Yes?
Reliance enjoys a rare international credit rating above India’s sovereign rating, with Baa2 from Moody’s and BBB from Fitch, making it one of the most attractive borrowers in Asia.
At a time when loan activity in Asia Pacific (excluding Japan) has hit a 20-year low, with only $29 billion raised in G3 currencies (USD, EUR, and JPY) so far this year, Reliance’s loan has re-energised the market. The total offshore borrowing by Indian companies has now reached $10.4 billion in 2025 — the fastest pace in a decade.
Analysts see this as a vote of confidence in India’s economic potential and Reliance’s strong business fundamentals.
Reliance’s Financial Health
In its Q4 results, Reliance reported:
- EBITDA: ₹43,800 crore (3% YoY growth)
- Net profit: ₹19,400 crore (2% YoY growth)
- Digital Services (Jio): EBITDA up 18% to ₹17,300 crore
- Retail EBITDA: Up 15% to ₹6,500 crore
- Oil-to-Chemicals and Oil & Gas segments saw YoY declines of 10% and 9%, respectively
Despite a net debt of ₹1.17 lakh crore, Reliance’s capital expenditure of ₹1.13 lakh crore in FY25 remains well-supported by its healthy cash profits, according to CFO V. Srikanth.
