Reliance Industries Ltd.

In a bid to fund roll-out expenses, Reliance Jio Infocomm (RJIL), the telecom arm of Reliance Industries (RIL) is planning to raise Rs 3,500 crore debt. In this regard, the company has proposed to issue Secured Redeemable Non- Convertible Debentures aggregating up to Rs 3,500 crore, on private placement basis. The company has also received its board’s approval for the same.

Earlier in May, the company had raised $750 million or about Rs 4,500 from Korea Trade Insurance Corporation to buy telecom equipments from Samsung Electronics and Ace Technologies.

Further, RJIL is looking to start commercial service with 4G mobile phones priced as low as Rs 4,000 a unit. The company is now present in all 29 states of India, with a direct physical presence in nearly 18,000 cities and towns of the country and covers over one lakh villages.