Mukesh Ambani to invest 30,000 more money on Reliance jio 4g to enhance the network coverage and capacity of Reliance Jio. Now more than 2 lakhs crore money has been invested in this Reliance jio as total.
The company will raise the funds through a rights issue of optionally convertible preference shares, it said in a notice sent to the National Stock Exchange.The telecom unit will offer 600 crore, 9% non-cumulative optionally convertible preference shares at `50 each, including a premium of `40.
Reliance has already invested `1.71 lakh crore in the unit that launched commercial services on September 5 and is quickly expanding subscriber base, fuelled by initial free data and voice offers. The company has built a nextgeneration data network with 4G technology and created an ecosystem comprising network, devices, applications and content. Within four months of the launch, it has signed up 72.4 million subscribers for the high-speed data and voice services.
According to the company, the subscriber addition rate was the fastest achieved by any company in the world, including the likes of Facebook, WhatsApp and Skype.
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The company will raise the funds through a rights issue of optionally convertible preference shares, it said in a notice sent to the National Stock Exchange.The telecom unit will offer 600 crore, 9% non-cumulative optionally convertible preference shares at `50 each, including a premium of `40.
Reliance has already invested `1.71 lakh crore in the unit that launched commercial services on September 5 and is quickly expanding subscriber base, fuelled by initial free data and voice offers. The company has built a nextgeneration data network with 4G technology and created an ecosystem comprising network, devices, applications and content. Within four months of the launch, it has signed up 72.4 million subscribers for the high-speed data and voice services.
According to the company, the subscriber addition rate was the fastest achieved by any company in the world, including the likes of Facebook, WhatsApp and Skype.
You may also like our previous posts
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