This plan ran into resistance.
Some investors were uneasy about the valuation given soft market conditions and the effect of a depreciating rupee on their returns in dollar terms, the report said.
Reliance then opted for an all-primary issuance instead, under which the company itself sells fresh shares.
This restructuring means the entire amount being raised, estimated at around ₹37,700 crore or roughly $4 billion, stays within Jio and within India.
This plan ran into resistance. Some investors were uneasy about the valuation given soft market conditions and the effect of a depreciating rupee on their returns in dollar terms, the report said. Reliance then opted for an all-primary issuance instead, under which the company itself sells fresh shares. This restructuring means the entire amount being raised, estimated at around ₹37,700 crore or roughly $4 billion, stays within Jio and within India.
