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

NEW DELHI: After record fund raising, Reliance Industries Ltd now has a strong balance sheet with high liquidity that will support growth plans for its three hyper-growth engines, Jio, Retail and Oil-to-Chemicals, according to the firm’s Chairman and Managing Director Mukesh Ambani.

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 Rs 2 lakh crore and raised another Rs 53,124 crore through rights issue.