Business Standard

RIL secures Rs 7,558 cr investment in digital fibre infrastructure trust

The fibre optic unit, which was earlier part of Reliance Industries Limited's (RIL) subsidiary Reliance Jio, has a debt of Rs 87,296 crore, which includes suppliers' credit

reliance jio, RIL
Premium

RIL had earlier raised funds via similar structures for Jio's telecom tower assets and for its promoter Mukesh Ambani-owned gas pipeline company.

Aneesh Phadnis Mumbai
Reliance Jio on Friday announced an investment of Rs 7,558 crore by the Abu Dhabi Investment Authority and the Public Investment Fund of Saudi Arabia for a 51 per cent stake in the the digital fibre infrastructure trust.

The fibre optic unit, which was earlier part of Reliance Industries Limited subsidiary Reliance Jio, has a debt of Rs 87,296 crore, which includes the suppliers' credit. The company said induction of strong partners will help it manage critical asset base.

The stake purchase was announced along with the company's second quarter result was saw the Jio's net profit increase  nearly tripled to

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 30 2020 | 10:00 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com