Reliance Jio raises Rs 20 billion by selling NCDs

Reliance Jio Infocomm Limited (RJIL) has raised Rs 20 billion by issuing five-year non-convertible debentures (NCDs) through the electronic bidding platform route. The NCDs will bear a coupon rate of 8.32 per cent per annum to be paid annually. The issue has been assigned an AAA rating by rating firms CRISIL and ICRA. The proceeds of the issue will be utilised by RJIL for rolling out its digital services business in India.