(Reuters) -India’s Reliance, led by billionaire Mukesh Ambani, has raised about 210 billion rupees ($2.38 billion) through asset-backed securities, Bloomberg News reported on Monday, citing people familiar with the matter.
About three-quarters of the issuance was bought by domestic asset managers, including Aditya Birla Sun Life, HDFC Asset Manangement, ICICI Prudential Asset manangement, Nippon India Asset Manangemnet, and SBI Funds Management, the report said.
Reliance, Aditya Birla Sun Life, HDFC Asset Manangement, ICICI Prudential Asset manangement, Nippon India Asset Manangemnet, and SBI Funds Management did not immediately reply to a Reuters request for comment.
The issuance comes after Reliance Jio Platforms, a key unit of the group, delayed its planned IPO as it seeks to strengthen its revenue base and expand its digital offerings to boost its valuation ahead of a listing.
($1 = 88.1580 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru; Editing by Tasim Zahid)
