In what could be the largest private placement by a corporate entity in the current financial year that began on April 1, Reliance Industries’ (RIL) telecom unit, Reliance Jio Infocomm is reportedly planning to raise up to Rs 1,000 crore by selling bonds privately to institutions. Although, the company earlier was exploring maturities of five, seven and ten year securities, it is likely to raise the entire funds through ten-year securities, the coupon of which could be fixed in the range of 9.25%-9.35%.
However, the company has yet not reached to a final deal and presently is in talks with group of investment bankers. Reliance Industries, is a Fortune Global 500 company and is the largest private sector company in India. Its activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail, infotel and special economic zones.
