Reliance Broadcast Networkto raise Rs 1000 via the qualified institutional placement route

Reliance Industries is putting in place the building blocks for a nationwide rollout of its planned fourth generation wireless broadband network also submitted a proposal to the government regarding KG-D6 on pricing today. With the elder Ambani pulling up his sock, Anil Ambani too is geared to make his splash. ADAG company Reliance Broadcast Network has received approval from its shareholders to raise Rs 1000 via the qualified institutional placement route. He says that phase III of radio is indeed going to be a game-changer and the government policy of raising FDI limit to 26% will bode well for the industry.