Brookfield-backed Summit Digitel plans to raise Rs 118.36 billion; RIL likely to invest

Brookfield-backed Summit Digitel Infrastructure is reportedly raising Rs 118.36 billion via local bonds.

According to industry sources, Reliance Industries will likely subscribe to the bonds, which will replace a long-term credit facility. This is a record fund-raising by bonds issued in one shot via private placement.

The issue will likely to open for subscription today through electronic bidding platforms on the BSE and the NSE.