Digital IndiaAnalysisInFocusMarketingNews

Jio to Raise Rs 20,000 Cr Through Rights Issue

Sharing is caring!

Reliance Jio will sell optionally convertible preference shares through rights issue to existing shareholders to raise Rs 20,000 crore. Jio is a wholly-owned subsidiary of RIL (Reliance Industries Limited).

In a regulatory filing with both the Bombay Stock Exchange and the National Stock Exchange, Reliance Jio Infocomm Ltd said its board of directors at a meeting had decided to make a “rights issue of 4 billion — 9 per cent non-cumulative optionally convertible preference shares (OCPS) of Rs 10 each for cash at a premium of Rs 40, aggregating to Rs 20,000 crore.”

The amount subscribed on each OCPS shall be wither redeemed at Rs 50 each or converted into five equity shares at any time at the option of the company, but not later than 10 years from the date of allotment, the filing said.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: