July 20, 2017 / 11:04 AM / a month ago

BRIEF-Reliance Jio to raise 200 bln rupees via rights issue

July 20 (Reuters) - Reliance Jio Infocomm Ltd:

* Says has decided to make a rights issue of 4 billion - 9 pct non-cumulative optionally convertible preference shares

* Says has decided to make a rights issue of non-cumulative optionally convertible preference shares worth 200 billion rupees Source text: [Reliance Jio Infocomm Ltd has informed BSE that the Board of Directors at its meeting held on July 20, 2017, has decided to make a rights issue of 4 billion - 9% Non-Cumulative Optionally Convertible Preference Shares ('OCPS') of Rs.10/- each for cash, at a premium of Rs. 40/- per OCPS, aggregating to Rs.20,000 crore. The amount subscribed/ paid on each OCPS shall be either redeemed at Rs. 50/- or converted into 5 (Five) 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 the OCPS.] Further company coverage:

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