Telecom operator Reliance Jio is learnt to be in talks with three Japanese banks to raise USD 500 million (around Rs 3,250 crore) in debt. Also Read - Reliance JioFiber plans with free Voot Select subscription: Check plans, price, and other benefits
“Reliance Jio is in discussion with MUFG (formerly The Bank of Tokyo-Mitsubishi UFJ) , Mizuho Bank and Sumitomo Mitsui Banking Corporation to raise USD 500 million,” sources in the know of the development told PTI. Also Read - JioFiber broadband plans with free Netflix subscription: Check plans, price, data benefits, more
An e-mail query sent to the company seeking a response remained unanswered. Also Read - How to get free Netflix subscription: Just follow these steps
Last month the Reliance Jio board had approved raising of around Rs 20,000 crore in debt. The company has invested over Rs 2 lakh crore in the mobile business which has garnered over 168 million customers.
The Mukesh Ambani firm has also signed agreement to buy mobile business assets of Reliance Communications– the company led by his younger brother Anil Ambani, for around Rs 25,000 crore.
The source did not mention the timeline for raising the loan from Japanese banks and said, “The agreement is yet to be signed.”
This is published unedited from the PTI feed.