Reliance Jio issues INR 2,000 crore 5-year Non-Convertible Debentures

By July 7th, 2016 AT 7:17 PM

Reliance Jio Infocomm Limited (RJIL), a subsidiary of Reliance Industries Limited (RIL), today issued INR 2,000 crore of 5 year Non-Convertible Debentures (NCDs), bearing a coupon of 8.32% per annum, payable annually. The issue has been assigned a rating of AAA by CRISIL and ICRA. The proceeds of the issuance shall be utilized by RJIL for rolling out a state-of-the-art digital services business in India.

mobile-india

RJIL is the first issuer outside the financial services industry in India, to raise funds digitally through the EBP route. This is also the largest debt issuance in the Indian market by any issuer since the electronic bidding platform has been mandated by SEBI for private placement of debt, effective 1st July this year.

“We are overwhelmed by the response that we have received for our maiden issuance on the BSE-BOND platform. It reinforces the faith investors have in our next generation digital services business. The launch of the EBP platform is a significant step towards the development of market infrastructure for Indian Corporate Bond market. It will make the debt issuance process significantly more smooth and transparent for issuers as well as investors” said Soumyo Dutta, Treasurer, Reliance Industries Limited.

The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of INR 3500 crores, Reliance Jio said. Key investors include the prominent asset management companies and banks.

guest
3 Comments
newest
oldest
Inline Feedbacks
View all comments

Recent Posts

Tata Sky Moves 18 English Movie Channels to New Slots, 13 Channels Set to be Moved Soon

Tata Sky, the largest Direct-to-Home (DTH) operator in India on Wednesday revised the electronic programming guide (EPG) numbers of 18...

Google Chrome Gets Faster and Smarter With the Last Update of 2020

Google Chrome is one of the most widely used internet browsers in the world. Matt Waddell, Director of Product, Chrome,...

Reliance Jio Asks Trai to Hold Periodic Spectrum Auctions

India’s largest telecom operator Reliance Jio has asked the Telecom Regulatory Authority of India (Trai) to hold periodic spectrum auctions....