Reliance Jio has come with yet another offer. The firm has announced Jio Oppo Monsoon Offer, under which Jio subscribers who are buying new OPPO device on old or new Jio SIM can avail the benefits.
Under the newly-launched Jio Oppo Monsoon offer, the company is offering instant cashback benefits of Rs 1,800. The customer will also get Jio money credit upto Rs 1,800 in three equal tranches of Rs 600 each. However, they will only be available after 13th, 26th and 39th recharge. The customer will also get Rs 1,300 worth discount coupons from MakeMytrip.
The offer will start from June 28 and is available on the recharge plans for Rs 198 and Rs 299 plans.
Meanwhile, in less than 24 months after formal roll-out, Reliance Jio has developed an impressive customer base of over 20 crore customers. It has reached the mark in record time at the end of May, now close on heels of Idea which has 21.7 crore customers and Vodafone which has 22.2 crore users.
Jio which had 100 million users on February 2017 has doubled its customer base on May 2018. This is primarily owing to Jio’s data packs at aggressive price points which have ensured other telcos too also follow suit. Bharti Airtel is India’s most popular telecom company with nearly 31 crore users.
Jio users are currently using 9,700 MB data which is far greater than the market average. Jio which started commercial services on September 2016 has been getting 7-8 million new users every month, as per report, far greater than that of its competitors.
However, Jio continues to be the second choice for most consumers based on mobile number portability data.
Reliance Jio this week secured a USD 1-billion worth of term loan from a slew of foreign banks led by ANZ Bank and HSBC and covered by the Korea Trade Insurance Corporation (K-Sure) to finance its procurements from Samsung and Ace Technologies. The term loan, the fourth for the Reliance Industries in the past five years and the second covered facility for Jio in the past three years, was arranged on June 22, the company said in a statement.
“The term loan facility will be used to finance goods and services procured primarily from Samsung and Ace Technologies,” Jio said. The loan has door-to-door tenor of 10.75 years, and is the largest deal in the country as well as the largest deal supported by it in the telecom sector globally, it said.
The facility was arranged by Australia & New Zealand Banking Group, HSBC, BNP Paribas; Commerzbank, Citibank, ING Bank, JPMorgan Chase Bank, Mizuho Bank, MUFG Bank, and Banco Santander. Earlier in April it was reported that Reliance Jio’s decision to undertake price cuts in the January-March quarter led to a decline in its average revenue per user (ARPU) by 11% to Rs 137.1. DNA
