Reliance Jio Infocomm Limited (RJIL) is planning to raise funds of Rs 35 billion through an issuance of secured redeemable non-convertible debentures. The proceeds from the debt issue will be used for financing the 4G network launch.

Earlier in May 2015, RJIL had secured a loan of $750 million (Rs 45 billion) from Korea Trade Insurance Corporation to buy telecom equipments from Samsung Electronics and Ace Technologies.

RJIL is presently testing its 4G networks and will soon start a beta programme before the commercial launch in December 2015. The company is also looking to start commercial service with 4G mobile phones priced at Rs 4,000 a unit.