The correct answer is option 3, three years. As per the RBI (Reserve Bank of India) guidelines, an Indian company is required to issue Masala Bonds with a minimum tenure of three years when issuing them offshore.

Masala Bonds are rupee-denominated bonds issued by Indian entities in offshore markets. They are an avenue for Indian companies to raise funds from international investors in the form of debt. These bonds are usually listed on international exchanges and provide an opportunity for foreign investors to invest in the Indian market.

The minimum tenure requirement of three years ensures that the bonds have a longer-term commitment and are not short-term in nature. This provides stability and assurance to the investors regarding the repayment of the principal amount and interest over a reasonable period. It also aligns with the RBI`s objective of promoting long-term debt financing for Indian companies in the offshore market.

Therefore, if an Indian company plans to issue Masala Bonds offshore, they must adhere to the RBI guidelines and ensure a minimum tenure of three years for these bonds.