Jio Credit plans to sell up to INR10B 5-year bond

Jio Credit, a subsidiary of Jio Financial Services, has announced plans to issue 5-year bonds with a total size of up to 10 billion Indian rupees (INR), according to multiple sources. The company previously raised INR5 billion through a bond issuance in November 2025, with a coupon rate to be determined and a AAA credit rating from Crisil and Care. More recently, in May 2025, Jio Credit successfully raised INR10 billion via its maiden bond offering, which carried a 7.19% interest rate and matures on March 15, 2028. This earlier issuance included a base amount of INR5 billion and a greenshoe option of an additional INR5 billion, reflecting strong investor demand.

The upcoming 5-year bond issuance aligns with Jio Credit's strategy to diversify its funding sources, leveraging its parent company's robust liquidity and capital structure. Jio Financial Services holds a 6.1% stake in Reliance Industries, a key factor cited by rating agencies in assigning its highest-grade ratings. While the company has not disclosed specific terms for the new bonds, analysts note that its prior debt offerings have attracted significant institutional interest, supported by its strong market position and operational scale.

Jio Credit's debt program underscores the growing participation of non-banking financial companies in India's corporate bond market, particularly as firms seek to capitalize on favorable credit conditions and investor appetite for high-quality instruments. Further details on the upcoming issuance are expected to be finalized in the coming weeks.