RIL’s net debt may come down by 28%

ET Intelligence Group: Reliance Industries’ plans to become a zero-net debt company by March 2021 got a major boost on Wednesday with the announcement of the deal to sell a 9.9 per cent stake in Jio Platforms for ₹43,574 crore.

RIL’s net debt, after the deal completion, could fall by as much as 28 per cent to ₹1.1lakh crore, estimates by ETIG show. The deal is the first major transaction to partially sell assets after RIL announced a major restructuring exercise last year to become a zero net debt company by 2021.