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Reliance Industries has become net debt-free

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Reliance Industries chairman Mukesh Ambani says RIL will move towards listing of both Jio Platforms and Reliance Retail within the next five years. “I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” Mukesh Ambani said in a RIL statement released Friday.

RIL has raised over  168,818 crore in just 58 days through tech investments in Jio Platforms and rights issue. RIL raised 115,693.95 crore from 10 tech investors and  53,124.20 crore from RIL’s rights issue.

Jio Platforms has raised  115,693.95 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. PIF’s investment marks the end of Jio Platforms’ current phase of induction of financial partners.

Of the ₹1.68 lakh crore, the company received investments of ₹115,693.95 crore by global tech investors in its wholly-owned subsidiary Jio Platforms Limited and the company raised another ₹53,124.20 crore by rights issue amidst a global lockdown caused by the COVID-19 pandemic.

The combined capital raised has no precedence globally in such a short time. Both of these are also unprecedented in Indian corporate history and have set new benchmarks.


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