RJIL to raise a debt of Rs 10 billion through an issue of NCDs

Reliance Jio Infocomm Limited (RJIL) plans to further raise Rs 10 billion through non-convertible debentures (NCDs) to fund its expansion plans.

In a regulatory statement, RJIL said, ?Pursuant to the approval of the board of directors and shareholders, the company proposes to issue secured redeemable non-convertible debentures aggregating up to Rs 10 billion, on private placement basis.?

Earlier, the company had made an announcement to raise Rs 35 billion through debentures. With the latest announcement, the cumulative debt raised by company this financial year has reached around Rs 90 billion.

Also in May 2015, RJIL had raised about Rs 45 billion from consortium backed by Korea Trade Insurance Corporation to buy telecom equipment from Samsung Electronics and Ace Technologies.