Co to Raise 2,250 cr via Deben­tures

The Economic Times - - Companies: Pursuit Of Profit -

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.

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