Reliance`s Foreign Currency Bond

Case Code: FINC209
Case Length: 13 Pages
Period: 1966- 2022
Pub Date: 2023
Teaching Note: Available

Price: Rs.300
Organization: Reliance Industries Limited (RIL)
Industry: Conglomerate
Countries: India
Themes: Financing

Abstract Case Intro 1 Case Intro 2 Excerpts

Excerpts

RIL’S Financials

In 1977, RIL was listed on the Bombay Stock Exchange (BSE) through an Initial Public offer (IPO). , Thereafter, the company focused on its business expansion into different sectors such as financial services..

Foreign Currency Bonds Issued by RIL

RIL issued its first foreign currency bond in 2006, the same year that it entered the convenience store segment through ‘Reliance Fresh’. The company also took various other initiatives in 2006 such as the launch of the ‘Reliance Select’ brand..

Analysts’ views

According to Moody’s, RIL had a sound liquidity position. As of September 30, 2021, the company had cash and cash equivalents (including quoted marketable securities) worth US$ 25.6 billion..

Looking Ahead

As of February 2022, RIL had raised around US$ 8.05 billion in funds from the international capital market through the issue of foreign currency bonds to reduce its debt cost and diversify its liability. Only US$ 7.05 billion of these bonds were listed on India INX with the aim of increasing the liquidity of these bonds..

Exhibits

Exhibit I: Listed Foreign Currency Bonds of RIL
Exhibit II: RIL’s Gross debt trend From FY1999-00 to FY 2021-22
Exhibit III: RIL’s Timeline
Exhibit IV: RIL’s Revenue Trend from FY 1999-00 to FY 2021-22
Exhibit V: Financial Results of Q1, Q2 &Q3 of FY2021& FY2022
Exhibit VI: Lead Managers of RIL’s Foreign Currency Bond Issue in 2022
Exhibit VII: RIL’s Cash and Cash Equivalents Trend from FY 1999-00 to FY 2021-22

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