Reliance Jio to raise up to Rs 2,250 cr via debentures

Reliance Jio Infocomm today said it plans to raise up to Rs 2,250 crore through issuance of redeemable non-convertible debentures on a private placement basis.
The Mukesh Ambani-led company is looking at the commercial launch of its 4G services later this year.
"... 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 2,250 crore, on a private placement basis," the company said in a regulatory filing.
Last May, the company had raised USD 750 million or about Rs 4,500 crore from a consortium backed by Korea Trade Insurance Corporation to buy telecom equipment from Samsung Electronics and Ace Technologies.

Moreover, the company announced to raise Rs 4,500 crore through debentures in July.
As per a Morgan Stanley research note, Reliance Jio may launch services in a couple of months and is likely to net USD 1 billion revenue in the current fiscal.
Reliance has so far spent USD 19 billion on the telecom venture, it noted.
In December, RJio launched services for its employees, partners and vendors on a trial basis. It has 0.56 million users with average monthly data usage per user at 18 GB.