The non-convertible debentures carry a coupon of 8.32% payable annually. The proceeds of the issue will be used by Reliance Jio for rolling out a state-of-the-art digital services business in India. The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of Rs 3500 Cr. Key investors include the prominent asset management companies and banks.
The fall in oil prices has been a major driver of financial markets this year, hammering energy companies, lowering inflation expectations and reinforcing bets on loose monetary policy in Europe and a slow tightening in the United States. U.S. West Texas Intermediate futures were up 21 cents at $37.02 per barrel, following a more than 3 percent fall on Monday. Brent, the international benchmark, was at $36.82 per barrel, up 20 cents but still less than a dollar away from an 11-year low hit earlier in December.