Odisha News Insight

Reliance Jio to raise Rs.3,000 Crore through Debentures

Reliance jioMumbai, Oct 29: Reliance Jio Infocomm plans to raise Rs.3,000 crore by issuing redeemable non-convertible debentures (NCDs) on private placement.

“In pursuant to the approval of the board of directors and shareholders, the company proposes to issue secured NCDs aggregating up to Rs.3,000 crore on private placement basis,” the Mukesh Ambani-owned firm said in a regulatory filing here.

The telecom service provider is equipping to roll out 4G services by year-end at competitive charges for voice and data through broadband link.

The parent company (Reliance Industries) has invested Rs.1 lakh crore in its telecom venture so far and raised Rs.4,500 crore in May from a consortium led by Korea Trade Insurance Corporation to buy equipment from Samsung and Ace Technologies.

The telecom behemoth has presence in about 18,000 cities and towns and one lakh villages in 29 states across the country. It has an optical fibre network spanning 250,000 km.

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