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Reliance Jio to raise Rs 15,000 crore via rights issue

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MUMBAI: Mukesh Ambani’s telecom company Reliance Jio Infocomm Ltd is planning to raise a sum of Rs 15,000 crore via a rights issue. The company’s board has approved the plan for the same.



According to the information given in a regulatory filing, the company will issue 15 billion equity shares of Rs 10 each totalling up to a whopping amount of Rs 15,000 crore to its existing shareholders.



As of yet, the company has not given any further clarification for raising such a large amount.



As was reported earlier by Indiantelevision.com, Reliance Jio also inked a spectrum sharing and trading agreement with Reliance Communications to strengthen its indoor coverage and voice services.



Further, the company also plans to offer 4G services at a monthly charge of Rs 300 - 500 and will also provide 4G mobile phones at a low price of Rs 4000 per unit.

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