Ahead of launching commercial operations of 4G services, Reliance Jio Infocomm ltd, the telecom arm of Reliance Industries ltd, plans to raise Rs3,500 crore debt to fund roll-out expenses.
“The Company proposes to issue Secured Redeemable Non- Convertible Debentures aggregating up to Rs3,500 crore, on private placement basis,” RJIl said on Friday in a regulatory filing. The company's board has approved the proposal. In May, the company had raised $750 million or about Rs4,500 from Korea Trade Insurance Corporation to buy telecom equipments from Samsung Electronics and Ace Technologies.