Reliance Industries Limited ingresses in GIFT IFSC with secondary listing of over USD 7 billion of extant foreign currency bonds on India INX.
In a first, Reliance Industries Limited listed their existing foreign currency bonds aggregating over USD 7 Billion on India INX becoming the largest such listing by a private entity in India INX and GIFT IFSC. This includes the USD 4 Billion jumbo bonds raised recently in January 2022, which was termed as the largest ever foreign currency bond issuance by an Indian entity.
Commenting on the listing, Mr. V. Balasubramaniam, MD and CEO, INDIA INX said, “This is a proud moment for us as we welcome Reliance Industries Limited on India INX, this being the first such access of Reliance Industries in seeking services from our very own IFSC. We are sure that this will give confidence to various other corporates to follow. With this, our total bond listings are now over USD 41+ Billion with the total medium- term notes established to the tune of USD 58+ Bn, making our Exchange the platform of choice for issuers of foreign currency bonds.”
Commenting on the listing Mr. Srikanth Venkatachari, Joint Chief Financial Officer, RIL said “We are delighted to list our existing foreign currency bonds, including the recent landmark US$4bn Jumbo bond issuance, at the India INX. The listing framework and the seamless process is comparable with what is offered at any global financial centre. We look forward to a long-term association with India INX.”