Jio Credit score, the non-bank financing arm of the Mukesh Ambani-led Reliance group, on Wednesday raised Rs 1,000 crore by means of a maiden bond situation from home traders, firm officers stated. The entity, an entirely owned subsidiary of Jio Monetary Providers, has raised the cash at a coupon charge of seven.19 per cent, they stated.
The bonds have a tenor of two years and ten months, they stated, including that the problem was oversubscribed by thrice.
The bottom dimension of the problem was Rs 500 crore, and the general fundraise got here at Rs 1,000 crore, courtesy a greenshoe possibility permitting for retaining the upper subscriptions, they stated.
The coupon charge at which the bonds have been issued is as much as 0.08 per cent decrease than different well-rated non-bank finance corporations.
Shares of Jio Monetary Providers settled 0.13 per cent up at Rs 267.75 apiece on the BSE on Wednesday as towards a 0.22 per cent rise on the benchmark.
