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  Business   Companies  19 Jun 2020  Mukesh Ambani's Reliance Industries is now 'net debt free'

Mukesh Ambani's Reliance Industries is now 'net debt free'

PTI
Published : Jun 19, 2020, 10:02 am IST
Updated : Jun 19, 2020, 10:02 am IST

Ambani said Reliance raised Rs 1.15 lakh crore by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd

 Mukesh Ambani's Reliance Industries becomes 'net debt free' after Rs 1.69 lakh crore fund raising. (PTI Photo)
  Mukesh Ambani's Reliance Industries becomes 'net debt free' after Rs 1.69 lakh crore fund raising. (PTI Photo)

New Delhi: Billionaire Mukesh Ambani on Friday said his flagship firm Reliance Industries is now net-debt free after a record Rs 1.69 lakh crore fund raising in under two months.

In a statement, Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.

 

The company had a net-debt of Rs 1.61 lakh crore as on March 31, 2020.

"I have fulfilled my promise to the shareholders by making Reliance net-debt free much before our original schedule of March 31, 2021," he said.

Tags: reliance industries, ril, fund raising, jio platforms ltd, rights issue
Location: India, Delhi, New Delhi