Reliance seeks $2 billion loan for expansion plans

19 Jun 2023 CW Team

Reliance Industries is currently engaged in discussions with lenders regarding a potential foreign-currency loan amounting to $2 billion. The purpose of this loan is to support the ongoing expansion of Reliance's diverse business portfolio, which encompasses oil and telecoms operations. To secure the loan, the company intends to utilise India's designated external commercial borrowing pathway.

According to an insider, the loan facility is anticipated to have a maturity period ranging from three to five years. The funds acquired through this loan will serve two primary purposes: funding capital expenditure and refinancing an existing loan that is set to mature in September.

Prominent financial institutions such as Bank of America Corp., Citigroup Inc., and Standard Chartered Plc are reportedly involved in these discussions. However, when approached for comments, spokespeople for these banks declined to provide any statements. A representative from Reliance stated that they are currently unable to offer an immediate comment.

Mukesh Ambani, the driving force behind Reliance, is seeking to raise funds as part of his ongoing efforts to expand the company's telecoms and consumer-facing divisions. Reliance's success in achieving a net debt zero status in 2020 has enabled the company to fuel its expansion endeavors through substantial borrowing.

Reliance has publicly announced its intention to invest $75 billion in renewable energy over a span of 15 years. Furthermore, the company made headlines last year with its acquisition of the highly sought-after $3 billion streaming rights for the Indian Premier League cricket tournament. Additionally, Reliance is actively rolling out 5G network services across the South Asian nation, with an estimated cost of $25 billion.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..