Addition of 72 million paid subscribers to its Reliance Jio 4G network is credit positive for the company, Moody's said in a statement on April 5, 2017. 

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Moody's said, "This is credit positive as the subscriber enrolment reduces cash-flow uncertainty of the telecom business, on which RIL has spent over Rs 1.7 lakh crore over the last six years."

With this, Reliance Jio is now India's fifth largest telecom operator. 

Reliance Industries Ltd were trading up by 1.56%, at Rs 1,392.65 on BSE Sensex at 1000 hours on Wednesday April 5, 2017. 

Sensex, Nifty down 0.17%; Reliance shares gain 2%

“Even if Jio were to generate about Rs 20,000 crore in revenue, it will not be sufficient to generate free cash flows as the company’s spending on capex, which we expect to be at least Rs 15,000 crore per year, will be significantly higher than its EBITDA,” Halan and Acres said.

While announcing that Jio Prime membership would be extended to April 15, Ambani said, “…we will add another 100,000 towers to our network in the coming months.  This greenfield investment – of over Rs 200,000 crores – is the largest anywhere in the world.”