Indian conglomerate Reliance Industries (NSE:RELIANCE) is looking to raise around 125 billion Indian rupees through local-currency bonds in its first such offering since 2023, Bloomberg News reported Tuesday, citing people familiar with the matter.

The offering will reportedly feature a base issue size of 100 billion rupees, supplemented by a greenshoe option of 25 billion rupees. The AAA-rated notes will carry a five-year maturity and an annual coupon of 7.47%, with the offering expected to launch as early as next week, the report said.

Reliance has tapped Axis Bank (NSE:AXISBANK, BOM:532215), ICICI Bank (NSE:ICICIBANK, BOM:532174), HDFC Bank (NSE:HDFCBANK, BOM:500180) and YES Bank (NSE:YESBANK, BOM:532648) to serve as arrangers for the issuance.

None of the involved parties immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)