Reliance Jio To Raise Rs 750 Crore Through Debentures

Reliance Jio To Raise Rs 750 Crore Through Debentures
New Delhi: Reliance Jio Infocomm on Friday said it plans to raise up to Rs 750 crore through issuance of redeemable non-convertible debentures on a private placement basis.

Last month, the company had also a debenture issue of up to Rs 2,250 crore.

“…pursuant to the approval of the Board of Directors and shareholders, the company proposes to issue secured redeemable non-convertible debentures aggregating up to Rs 750 crore, on private placement basis,” Reliance Jio Infocomm said in a filing to BSE.

Part of the Mukesh Ambani-led group, the company is looking at a commercial launch of its 4G services later this year.

Last May, the company had raised $750 million or about Rs 4,500 crore from a consortium backed by Korea Trade Insurance Corporation to buy telecom equipment from Samsung Electronics and Ace Technologies.

In December, Reliance Jio launched services for its employees, partners and vendors on a trial basis.

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