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RIL to raise Rs 250 billion through NCDs to fund RJIL’s expansion

June 27, 2017

Reliance Industries Limited (RIL) is planning to raise Rs 250 billion through private placement of redeemable non-convertible debentures. The proceeds from the same will be used by the company to fund the expansion of its telecom venture Reliance Jio Infocomm Limited (RJIL). RIL will discuss the proposed fundraising at its annual general meeting on July 21, 2017.

Earlier in April 2017, RIL had proposed to increase its capital expenditure on RJIL by Rs 180 billion in the April-June 2017 quarter, adding to the Rs 1.79 trillion investment that it had already put into the venture so far. RJIL had said that it would add another 100,000 towers to the existing network of 100,000 mobile towers. The company is also in the process of launching its optical fibre-based home broadband services “Jio Fibre” and is currently testing the network along with trial offers in major cities.

 
 

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