The company in a regulatory filing said its board has approved the rights issue in a meeting held today.

The company also announced a spectrum sharing and trading agreement with Reliance Communications, that will bolster its indoor coverage and seamless voice services.

Reliance Industries (RIL) has already invested over Rs 1 lakh crore in RJIL.

The company has plans to offer 4G service at a monthly charge of Rs 300-500 and start commercial service with 4G mobile phones priced as low as Rs 4,000 a unit.

The company is present in all 29 states of India, with a direct physical presence in nearly 18,000 cities and towns of the country and covers over one lakh villages.

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