Reliance Jio Infocomm, a subsidiary of Reliance Industries, on Thursday the company proposed to issue secured redeemable non-convertible debentures aggregating upto Rs 35 billion on private placement basis. The company has secured approval of the board of directors and shareholders for the fund raising plan.
RJIL is the first telecom operator to hold pan India 4G license. Earlier the company said the financial year 2016-17 will be the first full year of commercial operations.
RJIL is currently conducting pre-launch testing and stabilization of the telecom network. It will initiate an extensive beta program over the next few weeks to further test the network, prior to full commercial launch of operations.
It holds the highest amount of liberalised spectrum among telecom operators totalling to 751.1MHz across the 800MHz, 1800MHz and 2300MHz bands. In addition to pan-India 2300 MHz spectrum, RJIL has spectrum in either 800 MHz or 1800 MHz or both bands in 20 out of the 22 circles in the country.
Shares of the company gained Rs 7.55, or 0.76%, to trade at Rs 1,003. The total volume of shares traded was 165,020 at the BSE (11.53 a.m., Thursday).
