Indian nascent mobile operator Reliance Jio Infocomm is reportedly looking to raise about Rs90bn (US$1.46bn) in overseas debt financing.
Its parent, conglomerate Reliance Industries, is in the process of mandating banks to arrange the funding, according…
Indian nascent mobile operator Reliance Jio Infocomm is reportedly looking to raise about Rs90bn (US$1.46bn) in overseas debt financing.
Its parent, conglomerate Reliance Industries, is in the process of mandating banks to arrange the funding, according to local newspaper the Business Standard citing an unnamed source.
It remains unclear how the operator would use the proceeds and the company could not be reached to comment on the report.
Reliance Jio expects to start launching 4G services by early 2015. To do so, the latest entrant in India’s crowded mobile market has signed multiple infrastructure sharing agreements with rivals over the past few months.
It also bid aggressively in February’s hotly-contested spectrum auction, agreeing to pay US$1.7bn to secure 1,800 MHz frequencies. The company also holds spectrum in the 2,300 MHz band.
