Mukesh Ambani says Reliance now has strong balance sheet to support growth

After record fundraising and debt prepayments, Reliance Industries Ltd now has a strong balance-sheet with high liquidity that will support growth plans for its three hyper-growth engines – telecom arm Jio, retail and oil-to-chemicals business, firm’s Chairman and Managing Director Mukesh Ambani said.

In the company’s latest annual report released on Wednesday, he said the company sold minority stakes in Jio Platforms – the unit that houses its telecom and digital business – and retail arm for almost ₹2 lakh crore, 49 per cent in fuel retailing venture for ₹7,629 crore and raised another ₹53,124 crore through rights issue.

“We now have a strong balance-sheet with high liquidity that will support growth plans for our three hyper-growth engines – Jio, Retail and O2C,” he said.