Reliance Jio secures $2 bn loan for 5G Expansion from HSBC
ECONOMY & POLICY

Reliance Jio secures $2 bn loan for 5G Expansion from HSBC

Reliance Jio Infocomm has successfully secured a significant offshore loan amounting to Rs 16,640 crore ($2 billion) for the financial year 2023-24 (FY24). This move stands as one of the largest offshore loans in the country. The primary purpose of this funding is to facilitate the procurement of telecommunication equipment from the renowned Finnish company, Nokia. The loan arrangement has been orchestrated by HSBC, which acts as the lead arranger for this substantial financial transaction.

According to the report, Finnvera, the Finnish credit agency, has extended coverage for a similar amount to insure Nokia. This strategic coverage is anticipated to lower Jio's funding costs for acquiring 5G equipment.

Sources familiar with the matter revealed that the deal was recently finalised after several months of discussions with HSBC as the lead arranger. The loan amount hovers around $1.5-2 billion and is structured in a manner that includes an implied rate of interest over the loan's tenure.

It's noteworthy that in September, Jio had also secured nearly $2 billion from BNP Paribas, primarily earmarked for financing the purchase of 5G equipment from Ericsson.

In their annual report, Jio disclosed a collaboration with the Swedish credit agency EKN, through which they obtained funding amounting to $2.2 billion. These funds are specifically allocated for procuring equipment and services essential for their ambitious 5G plan.

Additionally, recent data released by the Telecom Regulatory Authority of India (Trai) showcased Jio's robust growth in user numbers. In July, Jio welcomed 3.9 million new mobile users, a significant increase compared to Airtel's addition of 1.5 million users during the same period.

Jio's momentum continued as they added 2.2 million users in June. Furthermore, the company achieved a milestone in July by surpassing 10 million landline connections, up from 9.95 million the previous month. Notably, Jio currently dominates one-third of India's extensive 30.6-million-strong landline market, providing services to a significant portion of the country's population.

For the month of July, Jio boasted a substantial subscriber market share of 38.6%, while Airtel held a respectable 32.7% share, solidifying Jio's position as a major player in India's competitive telecommunication landscape.

Reliance Jio Infocomm has successfully secured a significant offshore loan amounting to Rs 16,640 crore ($2 billion) for the financial year 2023-24 (FY24). This move stands as one of the largest offshore loans in the country. The primary purpose of this funding is to facilitate the procurement of telecommunication equipment from the renowned Finnish company, Nokia. The loan arrangement has been orchestrated by HSBC, which acts as the lead arranger for this substantial financial transaction. According to the report, Finnvera, the Finnish credit agency, has extended coverage for a similar amount to insure Nokia. This strategic coverage is anticipated to lower Jio's funding costs for acquiring 5G equipment. Sources familiar with the matter revealed that the deal was recently finalised after several months of discussions with HSBC as the lead arranger. The loan amount hovers around $1.5-2 billion and is structured in a manner that includes an implied rate of interest over the loan's tenure. It's noteworthy that in September, Jio had also secured nearly $2 billion from BNP Paribas, primarily earmarked for financing the purchase of 5G equipment from Ericsson. In their annual report, Jio disclosed a collaboration with the Swedish credit agency EKN, through which they obtained funding amounting to $2.2 billion. These funds are specifically allocated for procuring equipment and services essential for their ambitious 5G plan. Additionally, recent data released by the Telecom Regulatory Authority of India (Trai) showcased Jio's robust growth in user numbers. In July, Jio welcomed 3.9 million new mobile users, a significant increase compared to Airtel's addition of 1.5 million users during the same period. Jio's momentum continued as they added 2.2 million users in June. Furthermore, the company achieved a milestone in July by surpassing 10 million landline connections, up from 9.95 million the previous month. Notably, Jio currently dominates one-third of India's extensive 30.6-million-strong landline market, providing services to a significant portion of the country's population. For the month of July, Jio boasted a substantial subscriber market share of 38.6%, while Airtel held a respectable 32.7% share, solidifying Jio's position as a major player in India's competitive telecommunication landscape.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement