Mukesh Ambani declares RIL net debt free after raising Rs 168,818 crore in two months

Mukesh Ambani's RIL is offically net debt free after accumlating Rs 168,818 crore in two months through the country’s largest ever rights issue and series of stake sale deals in its arm Jio Platforms, delivering on a promise given to shareholders in August last year.  Chairman Mukesh Ambani said, “I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021.”He assured shareholders that in its ‘golden decade,’ RILNSE 1.56 % will set even more ambitious growth goals and achieve them.

Global investors like Facebook, Silver Lake, KKR, General Atlantic, Vista Equity Partners, Mubadala, ADIA, TPG and L Catterton now have a combined 24.7 percent minority shareholders in Jio Platforms. As far as future investments are concerned, Saudi Arabia’s Public Investment Fund, one of the world’s largest sovereign wealth funds, is said to invest Rs 11,367 crore for 2.32 percent minority stake in Jio Platforms. In Reliance’s last year’s Annual General Meeting, the company chairman had announced that he plans to get Reliance Jio and Reliance Retail listed in the next five years.