Reliance Industries looks to raise another ₹5,000-10,000 cr for Jio Platforms by Dec

Reliance Industries Ltd (RIL), which already raised ₹1.24-lakh crore this year, might raise another ₹5,000-10,000 crore by selling stake in its wholly-owned subsidiary Jio Platforms by December. The fund-raising would be done through one or more tranches.

Looking at the fund-raising plans, RIL would emerge net-debt free much before the end of this calendar year, sources added.

“There is a lot of interest in Jio Platforms and the company is in talks with a number of investors for additional funding, which will come in by the end of the year. The firm is already in talks with a couple of investors for the funding,” a source close to the development said.