Reliance Group is planning to raise up to 100 billion rupees ($1 billion) through asset-backed securities, potentially one of India's largest such deals this year. The notes will be backed by rental receivables from group companies, including Reliance Jio Infocomm Ltd., and are due in five years with a coupon in the 8.35%-8.40% range. Barclays Plc is the lead arranger.

This transaction marks another foray by Reliance into the ABS market, following a 210 billion rupee deal in September 2025. The company recently raised 120 billion rupees through five-year bonds at 7.47% and is planning a separate 100 billion rupee issuance of 10-year notes with a 7.90% coupon. The proposed deal has a minimum size of 50 billion rupees, with an option to retain an additional 50 billion rupees.

The transaction would further boost India's ABS market, which reached a record 1.53 trillion rupees in the financial year ended March 31. Asset-backed securities are debt instruments backed by a pool of loans such as mortgages, vehicle loans, and gold loans. In India, securitization deals take two forms: ABS (pass-through certificates) and direct assignments.