Ahead of launching commercial operations of 4G services, Reliance Jio Infocomm Ltd, the telecom arm of Reliance Industries Ltd, plans to raise Rs 3,500-crore (Rs 35-billion) debt to fund roll-out expenses.
"The Company proposes to issue Secured Redeemable Non-Convertible Debentures aggregating up to Rs 3,500 crore, on private placement basis," RJIL said on Thursday in a regulatory filing.
The company's board has approved the proposal.