Reliance Jio Infocomm Limited (RJIL) on Thursday said its Rs 2,000 crore Non-Convertible Debentures (NCDs) issue was oversubscribed with a total book size in excess of Rs 3,500 crore.
The subsidiary of Reliance Industries Limited (RIL) on Thursday issued NCDs of five year tenure amounting Rs 2,000 crore with a coupon of 8.32 per cent per annum.
"The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of Rs 3500 crore.
"The proceeds of the issuance will be utilised for rolling out digital services business in India," it said.
"We are overwhelmed by the response that we have received for our maiden issuance on the BSE-Bond platform. It reinforces the faith investors have in our next generation digital services business. The launch of the EBP platform is a significant step towards the development of market infrastructure for Indian corporate bond market," said RIL's Treasurer Soumyo Dutta.
--IANS
bdc/vd
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app