Reliance Jio Infocomm Limited announced a private placement of 15,000,000,000 common shares at INR 10 per share for gross proceeds of INR 150,000,000,000 on January 18, 2016. The round will see participation from returning investor Reliance Industries Limited which owns around 99% stake in the company along with other shareholders of the company. The board of directors of the company approved the transaction.