SBI buys about 40% of Reliance Industries bond issue
In short
State Bank of India bought nearly ₹50 billion of Reliance Industries’ ₹13,000 crore bond issue, about 40% of the total. The bonds were rated AAA by Crisil and CareEdge and paid 7.90% a year.
The strong buying shows demand for the deal. The report does not say who bought the rest or what Reliance plans to do with the money.
What the reporting says
State Bank of India bought nearly ₹50 billion, or about 40%, of Reliance Industries’ ₹13,000 crore bond issue, according to the reporting. The bonds were rated AAA by Crisil and CareEdge and carried an annual coupon of 7.90%. The available reporting does not say how the rest of the issue was distributed or what Reliance will use the proceeds for.
Why it matters
State Bank of India reportedly bought nearly ₹50 billion, or about 40%, of Reliance Industries’ ₹13,000 crore bond issue. The bonds carried a 7.90% annual coupon and were rated AAA by Crisil and CareEdge. The available reporting points to strong demand for the debt, but it does not detail the full investor mix or the use of proceeds.