Reliance Jio plans INR 300 bln rights issue to grow further

(Telecompaper) Reliance Jio Infocomm, the newest mobile operator in India, ended 2016 with a total 72.4 million subscribers. The company started by energy group Reliance Industries launched last September and claims to be the fastest growing technology operation in the world, after signing up 50 million subscribers in just 83 days. To finance the continue growth, Reliance Industries announced plans for a rights issue of convertible preference shares at Jio to raise INR 300 billion (USD 4.4 billi