MUMBAI: Reliance Jio Infocomm, a subsidiary of Reliance Industries Limited on Thursday raised ₹2,000 crore through issue of debentures, that will be used to part-finance building the infrastructure for its proposed digital telecom services.
In a statement issued on Thursday, Reliance Jio said it has issued 5- year non-convertible debentures (NCDs), bearing a coupon of 8.32% payable annually. The issue has been assigned a rating of AAA by CRISIL and ICRA.
Reliance Jio’s debenture exercise is the largest debt issuance in the Indian market since the electronic bidding platform for private placement of debt, was made effective from July 1, this year. The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of ₹3,500 crore, Reliance Jio said.
Key investors included prominent asset management companies and banks. “We are overwhelmed by the response that we have received . It reinforces the faith investors have in our next generation digital services business. The launch of the electronic bidding platform will make the debt issuance process smooth and transparent for issuers as well as investors,” said Soumyo Dutta, treasurer, Reliance Industries.
Reliance Jio is the first telecom operator to hold a pan-India unified license and is building an entire digital ecosystem including high speed data network, and devices among others.
{{/usCountry}}Reliance Jio is the first telecom operator to hold a pan-India unified license and is building an entire digital ecosystem including high speed data network, and devices among others.
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