Mumbai (Maharashtra), June 26 -- : Mukesh Ambani-led Reliance Industries has signed pacts with overseas lenders to avail long-term loans of 1.85 billion dollars (about Rs 12,850 crore) to finance its capital expenditure for the telecom arm.
The fund-raising comes amid reports of the company planning to infuse as much as Rs 20,000 crore into Jio to bolster broadband and e-commerce play ahead of a potential entry into 5G mobile telephony services in future.
"The company has entered into agreements with offshore lenders for availing long term loans aggregating 1.85 billion dollars, primarily for meeting a part of its planned capital expenditure in the normal course of its business," it said in a statement.
Reliance on an ongoing basis evalu...