Co to Raise 2,250 cr via Debentures
New Delhi Reliance Jio Infocomm on Wednesday said it plans to raise up to Rs 2,250 crore through issuance of redeemable nonconvertible debentures on a private placement basis. The Mukesh Ambani-led company is looking at the commercial launch of its 4G services later this year. “... 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 2,250 crore, on a private placement basis,” the company said in a regulatory filing. 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.