The ministry of home affairs (MHA) has approved the equity component of the Reliance Jio-Brookfield tower deal worth Rs 252.15 billion.

Further, MHA has asked the Department of Telecommunications (DoT) to seek the Securities and Exchange Board of India’s (SEBI) inputs on the debt part of the deal. This is expected to potentially delay the final clearance of the deal by some time.

As per industry sources, SEBI’s views have been sought on whether the debt-equity ratio of the deal is compliant with its guidelines for infrastructure investment trusts (InvITs).

As part of the deal, Rs 252.15 billion is been invested by Brookfield and its co-investors into the Tower Infrastructure Trust of Reliance Jio. Of this, only Rs 1 billion is being pumped further into Reliance Jio lnfratel Private Limited (RJIPL) in the form of equity, with the balance majority being in the form of debt.