Reliance Jio to raise Rs 3,500 Crores to fund 4G roll-out
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Reliance Jio, the "The Company proposes to issue Secured Redeemable Non- Convertible Debentures aggregating up to Rs 3,500 crore, on private placement basis," RJIL said today in a filing.
The company had raised $750 million or about Rs 4,500 from Korea Trade Insurance Corporation this May to buy telecom equipment from Samsung Electronics and Ace Technologies. RJIL is looking to launch 4G phones priced as low as Rs 4,000.
The company is now present in all 29 states of India.
Image credit: Indiatimes
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