Reliance Industries’ (RIL) subsidiary Reliance Jio Infocomm (RJIL) is planning to raise upto Rs 5,000 crore through debentures to fund business operations. RJIL is expected to roll out its services in the first half of 2016-17.
Rating agency CRISIL has assigned ‘AAA’ rating for non-convertible debentures (NCDs). RJIL will remain strategically important to RIL, which will continue to provide strong management and financial support to the subsidiary.
RJIL has large holding of pan-India liberalised spectrum, and the unified license. This makes it the only player that can offer voice telephony along with high-speed data on fourth generation (4G) technology across all 22 circles in the country.
