Reliance Industries Ltd.

Reliance Industries (RIL) is reportedly raising $800 million from Korea Exim (K-Exim) in a bid to fund purchase of telecom equipment from Korean vendors by Reliance Jio (RJio), the telecom arm of RIL, indicating that the much awaited rollout of telecom services by India's largest private company is gathering pace. The company may launch services in the first quarter of 2015.

This will be the first international financing for RJio, after a $1.5 billion overseas borrowing (ECB) raised in 2010 for spectrum payments. RIL is expected to soon refinance that funding as well. K-Exim will be funding 60% of the amount while standing guarantees for the remaining amount.

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.