Mukesh Ambani has raised more than Rs 50,000 for Akash Ambani led Reliance Jio Infocomm.
Mukesh Ambani has reportedly secured Rs 16,645 crore offshore loan for Akash Ambani led Reliance Jio Infocomm. It is believed to be one of India’s biggest offshore loans in FY24. As per a report by Business Today, the lead arranger for the massive transaction of 2 billion dollars was HSBC. Mukesh Ambani, the richest person in Asia, got a loan to purchase 5G gear from Nokia for expansion of Reliance Jio. As per the Economic Times, the loan is structured in a way that carries with it an implied rate of interest arrived over the tenure of the loan. This isn’t the first time Mukesh Ambani is raising money for Jio. Almost a month ago, the richest Indian raised a similar amount with BNP Paribas as the lead arranger. The loan amount will be reportedly used to expand Jio’s 5G network in India by…
