Mukesh Ambani's Reliance secures $2.9 bn dual-currency loan in largest bank group loan this year: Report

Mukesh Ambani-led Reliance Industries (RIL), India’s most profitable company, has reportedly secured a dual-currency syndicated loan worth $2.9 billion, which will come in two tranches worth

$2.4 billion and 67.7 billion yen, a Bloomberg report shows. The company has not made any official statement on this via exchanges so far.

The agreement was reportedly signed on May 9, 2025, and around 55 banks took part in it, making it the largest bank group loan deal signed this year. The loan deal also makes it the largest

offshore loan raised by an Indian company in over a year.

RIL's credit ratings are marginally higher than India's sovereign credit rating at Baa2 from Moody’s and BBB from Fitch, exhibiting the capability to repay debt. With this loan, the Indian

companies' foreign currency loan volumes surged to $10.4 billion in 2025 so far.

Separately, Reliance Industries Chairman Mukesh Ambani on Wednesday attended a high-profile state dinner at Lusail Palace in Doha, hosted by the Emir of Qatar, Sheikh Tamim bin Hamad

Al-Thani, in honour of U.S. President Donald Trump. The event marked Ambani’s second meeting with Trump since the latter returned to the White House in January. Ambani’s presence underscored

his deepening strategic ties with both the U.S. and Qatari leadership. The Qatar Investment Authority (QIA), the Gulf nation’s sovereign wealth fund, has invested around $1 billion in

Reliance Retail.

RIL has ₹3,50,453 crore as gross debt, excluding spectrum payment to the government in December. However, the company has maintained high cash reserves on its books, worth ₹2,34,988 crore

cash and cash equivalents, which are mainly in fixed deposits, certificates of deposits with banks and government securities and bonds. RIL's consolidated net debt as of March 31, 2025, was

marginally higher at ₹1,17,083 crore against ₹1,16,281 crore as of December 31, 2024. 

Mukesh Ambani-led Reliance Industries Ltd recorded a consolidated profit of ₹19,407 crore, an increase of 2.4% YoY from ₹18,951 crore during the corresponding quarter last year, driven by

strong growth in its digital services and retail businesses. In a historic feat, RIL said it became the first Indian company to cross a total equity of over ₹10 lakh crore in the financial

year 2024-25.

The oil-to-telecom giant posted 8.8% YoY growth in its consolidated gross revenue at ₹2,61,138 crore for the January-March 2024 quarter compared to ₹2,36,000 crore in the year-ago period.

The consolidated EBITDA of India's largest private company increased by 3.6% YoY to a record high of ₹43,832 crore on strong contributions from consumer businesses. EBITDA margin, however,

dipped 90 basis points to 16.9% in Q4 FY25 from 17.8% in the year-ago period. 

The RIL share closed 2.01% up at ₹1,453 on the NSE on Thursday.