Mukesh Ambani led Reliance Jio issued non-convertible debentures (NCDs) worth Rs. 2,000 crore on BSE’s new platform. This amount will be used to ensure that Jio’s services not only match all quality standards but are also available at affordable rates. The NCDs are issued on a five-year basis at 8.32 percent per annum.
Investment avenues
Within minutes of the issuance, Jio’s debentures were over-subscription leading to a book size which exceeded Rs. 3,500 crore. This plan was announced in April 2016 although the amount they expected to raise back then was Rs. 2250 crore.
October 2015 saw Reliance Jio release NCDs worth Rs. 3000 crore. Prior to that, in May, the world’s largest start-up acquired a loan of $ 750 million from nine leading banks. The repayment period of this loan is ten years.
Commercial launch
The Head of Planning and Strategy at Reliance Jio, Anshuman Thakur, stated that the network is undergoing final modifications and tests to prevent any glitches in services. The company is striving to provide a seamless experience to all its users.
Discounted devices
A few of Reliance’s LYF models are being offered at discounted rates. LYF’s FLAME 3, FLAME 4, FLAME 5, and FLAME 6 are all being offered at a price of Rs. 2,999. This concession makes the FLAME series LYF’s most pocket-friendly range of smart phones.
Along with the LTE-enabled devices, the buyers also receive free unlimited Jio services for three months. The phones are available from the brand’s official website mylyf.com and at various Reliance Digital stores.
Phone specifications
LYF devices have two SIM slots, offering the dual SIM option. The smart phones run on a 1.5 GHz quad-core processor and have a 4-inch display. In addition to front and back cameras, LYF phones also support up to 10 Indian languages.
LYF EARTH 2
Launched at a price of Rs. 19,999, the LYF EARTH 2 is one of the brand’s most premium offerings. The promotion strategy for this device has already increased its popularity. It includes a television commercial that shows Bollywood actor Priyanka Chopra promoting EARTH 2’s unique features and functions. Offering quality specifications s, and a unique voice-controlled camera feature, the device is already on demand in the market.
LYF’s reach
LYF offers variants within the price range of Rs. 4,000 to Rs. 20,000. The brand’s reach is further extended owing to its comprehensive distribution network that includes over 3,245 flagship stores.
LYF became India’s fifth-largest brand in terms of smart phone sales. In the LTE-enabled devices sector, LYF owns a 12.6% market share and is the third-largest seller.
Promotional strategy
LYF smart phones were launched at an event that was attended by celebrities like Shahrukh Khan, Mukesh Ambani and his entire family. The brand partnered with the Lakme Fashion Week 2016, GQ Best Dressed Men 2016, and multiple IPL teams like Mumbai Indians and Rising Pune Supergiants. One of the other television commercials feature leading actor Kangana Ranaut, along with cricket players like MS Dhoni, R Ashwin, and Virat Kohli.