Mumbai, July 7 (IANS) Reliance Jio Infocomm Limited (RJIL) on Thursday said its Rs 2,000 crore Non-Convertible Debentures (NCDs) issue was oversubscribed with a total book size in excess of Rs 3,500 crore.
The subsidiary of Reliance Industries Limited (RIL) on Thursday issued NCDs of five year tenure amounting Rs 2,000 crore with a coupon of 8.32 per cent per annum.
“The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of Rs 3500 crore.
“The proceeds of the issuance will be utilised for rolling out digital services business in India,” it said.
“We are overwhelmed by the response that we have received for our maiden issuance on the BSE-Bond platform. It reinforces the faith investors have in our next generation digital services business. The launch of the EBP platform is a significant step towards the development of market infrastructure for Indian corporate bond market,” said RIL’s Treasurer Soumyo Dutta.