Reliance Industries, one of India’s largest privately-held companies, is reportedly in talks with banks to secure a USD 3 billion loan to support its growth plans. The loan is said to be a syndicated facility, with multiple lenders participating. The company intends to use the funds to finance its expansion plans across various sectors, including its oil-to-chemical (O2C) segment, retail business, and digital initiatives.
Reliance Industries has been aggressively expanding its retail business, particularly in the food and beverages segment, and has made significant investments in its O2C segment. The company has also been driving growth through its digital offerings, including its Jio Platforms business.
The company’s growth plans are fueled by its vision to transform itself into a technology and energy conglomerate. To achieve this, Reliance Industries is investing heavily in digital technologies, including artificial intelligence, machine learning, and data analytics.
With a strong balance sheet and a proven track record of execution, Reliance Industries is well-positioned to secure the loan and deliver on its growth plans. The loan is expected to be a significant boost for the company, enabling it to accelerate its expansion and growth initiatives.