Reliance Industries Ltd (RIL), the flagship of the Reliance group, has invested an additional Rs 1,000 crore in Reliance Infocom, which is spearheading its entry into information technology, broadband services and telecom, during the current fiscal.
This takes the total investment of the group in Reliance Infocom to around Rs 2,600 crore. Till March 31, the total investment of RIL in the subsidiary was Rs 1,600 crore.
Anil Ambani, managing director, RIL, said the additional investment during the fiscal has been through deep discount bonds. The company has committed to invest Rs 25,000 crore in the infocom venture over the next 3-4 years.
The balance investments in the infocom project will be spread over the next four years and will be financed out of equity and debt which would be raised domestically as well as internationally.
The debt-equity ratio of the infocom project has been set at 2:1.
RIL expects to unlock value in Reliance Infocom within two-three years by taking the latter public. RIL will hold a 45 per cent stake in Reliance Infocom with the balance being held by employees, other group companies and promoters.
