Reliance Communications, Anil Ambani-owned wireless telephony operator and BPCL, energy firm, are planning to raise funds from overseas markets this month to fund their capital expenditure in India.
Reliance Communications is planning a $500 million issue which would be marketed from Monday, while BPCL is targeting to raise a similar amount for the expansion of its Kochi refinery.
For Reliance Communication, it will be second time is testing the investors’ appetite for its paper. Earlier, in December 2014, its $255 million was deferred for lack of investors’ appetite.
Reliance Communications is India’s foremost and truly integrated telecommunications service provider. The company, with a customer base of about 150 million, including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.
