Reliance is Now Net-Debt Free Before Deadline After Rs 1.69 Lakh Crore Fund Raising, Says Mukesh Ambani
Billionaire Mukesh Ambani on Friday said his flagship firm Reliance Industries is now net-debt free after a record Rs 1.69 lakh crore fundraising in under two months.
New Delhi, June 19: Billionaire Mukesh Ambani on Friday said his flagship firm Reliance Industries is now net-debt free after a record Rs 1.69 lakh crore fundraising in under two months. Jio Investments: From Silver Lake to Facebook, KKR and Mubadala, Reliance Telecom Arm Has Bagged Deals With 6 International Firms Over 2 Months; See Full List And Details.
In a statement, Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.
The company had a net debt of Rs 1.61 lakh crore as on March 31, 2020.
"I have fulfilled my promise to the shareholders by making Reliance net-debt free much before our original schedule of March 31, 2021," he said.
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