Debt drubbed, fundraising for radio phaseIII: Rel Broadcast

Reliance Industries today submitted a proposal to the government regarding KG-D6 on pricing and is also putting in place the building blocks for a nationwide rollout of its planned fourth generation wireless broadband network.

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 (QIP) route. CNBC-TV18 catches up with Tarun Katial, chief executive officer of the Network for more.
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. Below is the edited transcript of the interview. Also watch the accompanying video. Q: How much are you going to be raising at one go, the whole Rs 1000 crore? 
A: No, this is just an enabling provision. Phase three of radio is around the corner and the policy has been encouraging by the government. Some of the salient things that work from a fund-raise perspective are that the government has raised the FDI limit to 26% which allows some serious sectoral players to come into India. That