Sunday, September 27, 2020

    Billionaire Mukesh Ambani: Reliance now net debt-free after raising ₹1.69 lakh cr in 58 days

    Reliance Industries Chairman Mukesh Ambani on Friday said he fulfilled his promise to shareholders by making the company net debt-free much before the original schedule of March 2021.


    Ajay Nirmal
    Graduated from Mumbai University, Ajay brings in the latest news across sports, tech, and world news. Ajay loves talking on tech, latest news, and events.

    Billionaire Mukesh Ambani on Friday said his flagship firm Reliance Industries is now net-debt free after a record Rs 1.69 lakh crore fund raising in under two months.

    In a statement, Mukesh 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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