Reliance Jio issues Preference Shares for Rs 15, 000cr

12 September, New Delhi

The Board of Directors of Reliance Jio Infocomm limited has decided to make rights issue of 300,00,00,000 9 per cent Non-Cumulative Optionally Convertible Preference Shares (‘OCPS’) of Rs 10 each for cash, at a premium of Rs 40 per OCPS, aggregating to Rs 15,000 crore in substitution of the earlier rights issue of Equity Shares of the Company approved by the Board at its meeting held on July 14.

The decision was taken by the reliance Jio board at its meeting held today in Mumbai. The National Staock Exchange and Bombay Stock Exchange has been informed by the company, accordingly.

Each OCPS shall be either redeemed at a value of Rs. 50 per OCPS or converted into 5 Equity Shares of Rs 10 each at any time at the option of the Company, but not later than 10 years from the date of allotment of OCPS.

On July 14 the Company had informed the stock exchanges about the decision of the Board of Directors of the Company at its meeting held on July 14, to issue 1500,00,00,000 Equity Shares of Rs 10 each aggregating to Rs 15,000 crore on rights issue basis.