RIL to invest Rs 300 billion in RJIL

RIL is planning to invest Rs 300 billion to enhance the network coverage and capacity of its telecom venture, RJIL, taking the total investment to over Rs 2 trillion. The company will raise the funds through a rights issue of 6 billion optionally convertible preference shares with an interest rate of 9 per cent. RJIL had raised Rs 300 billion in 2016 as well, through a rights issues in January and September 2016.