The subsidiary of Reliance Industries Limited, Reliance Jio Infocomm on Thursday raised 2000 crore to be used for building the infrastructure for its proposed digital telecom services.
In a statement issued by Reliance Jio on Thursday, stated that it has issued a 5- year non-convertible debentures (NCDs), bearing a coupon of 8.32% payable annually. The issue has been assigned a rating of AAA by the CRISIL and ICRA.
Reliance Jio’s debenture exercise is one of the largest debt issuances in the Indian market, after the electronic bidding platform for the private placement of debt, was made effective from July 1, this year.
Reliance Jio
The transaction was fully subscribed within minutes of its opening and eventually over-subscribed with a total book size in excess of Rs. 3,500 crore, the company said.
Key investors included the prominent asset management companies and banks of the country. Expressing her thoughts, Soumyo Dutta, treasurer, Reliance Industries said that the company is overwhelmed with the response that it has received. It shows the faith investors have in their business.
Reliance Jio is the first operator to hold a pan-India license and is now building an entire digital ecosystem including the high speed data network, and devices among many others.
