Reliance Jio To Raise 750 Cr Through Debentures

NEW DELHI: Reliance Jio Infocomm today said it plans to raise up to Rs 750 crore through issuance of redeemable non-convertible debentures on a private placement basis. 

The company has last month 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 USD 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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