Jio to raise up to Rs 750 crore via non-convertible debentures issue

Jio Infocomm, which is expected to launch full-fledged commercial operations by December this year, is preparing to raise up to Rs 750 crore through issuance of redeemable non-convertible debentures on a private placement basis, following last month’s debenture issue of up to Rs 2,250 crore.

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In a filing to BSE, the telco said , “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.

In May 2015, Jio has raised around Rs 4,500 crore from a consortium backed by Korea Trade Insurance Corporation to buy telecom equipment from Samsung Electronics and Ace Technologies.

Reliance Jio, which has launched services for its employees, partners and vendors on a trial basis, has recently extended its services to retail customers through employee-driven referral system. The services are currently available through LYF handsets only.