Reliance Jio to raise ₹15000 Cr💰 ❗

  |   India News

Reliance Jio Infocomm Ltd, an unlisted subsidiary of Reliance Industries Limited(RIL) announced📢 that they plan to raise ₹15000 Crores💰 by issuing 15 billion equity shares of ₹10 each😳 to the existing shareholders as they prepare to launch 4G📶 services in April this year. This will be the second largest rights issue😯 in 🇮🇳 after State bank of India raised almost ₹16700 Crores💵 in 2008. RIL holds 99% of R-Jio's shares👍 and RIL's board of directors👥 will meet on Tuesday to take a call on the investment💰 as they are expected to fund a significant part of R-Jio's Project cost.

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