Wednesday, November 6

Reliance Jio Raises Rs 2,000Cr Through Electronic Bidding Platform (EBP)

Reliance Jio Infocomm Ltd. today raised Rs 2,000 crore through issuance of non-convertible debentures on the BSEs new platform and the proceeds would be utilised for roll out of its digital services business.

The issue received bids worth over Rs 3,500 crore. The five-year debentures will bear a coupon of 8.32% per annum.

“The proceeds of the issuance shall be utilised by Reliance Jio Infocomm Ltd for rolling out a state-of-the-art digital services business in India,” it said.

Reliance Jio said it is the first non-financial company to raise funds digitally through an electronic bidding platform (EBP). “This is also the largest debt issuance in the Indian market by any issuer since the electronic bidding platform has been mandated by Securities and Exchange Board of India (Sebi) for private placement of debt, effective 1 July this year,’ the statement said.

“We are overwhelmed by the response that we have received for our maiden issuance on the BSE-BOND platform. It reinforces the faith investors have in our next generation digital services business,” Reliance Industries Treasurer Soumyo Dutta said.

All investors, including institutional as well as high net worth (HNI) arrangers, are allowed to bid through BSE-BOND platform.