Jio Financial Services, the financial services provider company of Reliance Group, is going to come out with its first bond issue soon. For this the company is already in talks with merchant bankers. The company is preparing to raise huge funds from this bond issue. Such a claim is being made in some news.
Expected to come in the last quarter
According to a report by Reuters, this recently listed company of Mukesh Ambani will issue its first bond issue. It is preparing to raise Rs 5000 crore to Rs 10 thousand crore from the issue. This has been said in the report quoting four bankers. The first bond issue of Jio Financial Services may come in the last quarter of the current financial year i.e. during January-March 2024.
This is the current share price
Jio Financial has recently It has been separated from Reliance Industries and listed in the stock market. After listing in August, there has been a continuous decline in the price of its shares. Till now its share is down by around 13.50 percent. After the end of Monday’s trading today, Jio Financial Services shares fell 2.40 percent and closed at Rs 215.50.
The company is engaged in this work
Jio Financial about bond issue. Nothing has been said officially yet from the services. According to the Reuters report, the company is in the process of obtaining credit rating and other necessary approvals before the bond issue. Once all the approvals are received and the credit rating is done, the way for the bond issue will be cleared.
Expected to get triple A rating
The report quoted experts as saying that Jio Financial Services may get AAA credit rating because the promoters have a strong stake in the company. The pricing of the bond will depend on factors such as tenure and the balance sheet of the company at the time of issue. It may be 10-20 basis points more than Reliance Industries.
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