RIL becomes net debt free after raising Rs 1.68 lakh crore: Mukesh Ambani

Reliance Industries’ (RIL) chairman Mukesh Ambani in a statement on Friday said the company has become debt-free after it managed to raise Rs 1,68,818 crore in just 58 days.

At last count, Ambani-led telecom venture Jio Platforms had raised Rs 1,15,693 crore through 11 back-to-back deals within a span of eight weeks. Last month, the flagship Reliance Group itself raised Rs 53,124.20 crore via India’s biggest rights issue ever.

“Our net-debt was Rs 161,035 crore, as on March 31 2020. With these investments, RIL has become net debt-free,” Reliance IndustriesNSE 1.75 % said in a release on Friday.

Jio Platforms has raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020.