Reliance Industries is seeking up to $3 billion in loans for refinancing as it aims to manage its debt obligations effectively. Read to know more!

India's Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt that is due next year, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The loan, which is anticipated to be syndicated to a wider market in early 2025, is currently being discussed by RIL with roughly six lenders.

If the borrowing goes through, it would mark Reliance Industries’ return to the offshore market since 2023, when the group raised over $8 billion of loans. Those facilities, which were for the parent and subsidiary Reliance Jio Infocomm Ltd.

Billionaire Mukesh Ambani-owned Reliance Industries is in talks with banks for a borrowing of as much as $3 billion, in what could potentially be the largest offshore loan from India in over a year.