Reliance Jio to add $4.4 billion in funding as Mukesh Ambani builds war chest
Reliance Jio | January 16, 2017
Ambani investment in Jio is part of Reliance’s plan to diversify from the oil and petrochemicals that comprised about 98% of profit last year. As part of the current fundraising, Jio plans to issue 6 billion, 9%, non-cumulative, optionally convertible preference shares of Rs10 each at a premium of Rs40. Reliance is set to announce last quarter’s earnings on Monday.