Reliance Jio to Raise USD 500 Million

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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.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.