Reliance raises over Rs 168,818 Crore In Just 58 Days; JIO Platforms has now announced an investment of Rs 115,693.95 Crore By Leading Global Investors; Rights Issue Of Reliance Raised Rs 53,124.20 Crore

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. This is even more remarkable that this was achieved amidst a global lockdown caused by the Covid-19 pandemic.

Along with the stake sale to BP in the petro-retail JV, the total fundraising is in excess of Rs 1.75 lakh crore. The company’s net-debt was Rs 161,035 crore, as on 31st March 2020. With these investments, RIL has become

Jio Platforms has raised Rs 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.

The RIL Rights Issue, which was subscribed 1.59 times, was not only the largest ever in India, but also the largest in the world by a non-financial entity in the last ten years.

Mumbai, NFAPost: Reliance Industries Limited Chairman Mukesh Ambani has made it clear that his assuarance during the 42nd AGM meeting of making the company net-debt free.

Expressing his gratification at this achievement, Reliance Industries Limited Chairman Mukesh Ambani stated he is both delighted and humbled to announce that the company has fulfilled its promise to the shareholders by making Reliance net debt-free much before original schedule of 31st March 2021.

“Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance. Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them, in fulfilment of the vision of our Founder, Dhirubhai Ambani, to consistently increase our contribution to India’s prosperity and inclusive development,” said Reliance Industries Limited Chairman Mukesh Ambani.

On 12th August 2019, at the 42nd AGM of Reliance Industries Limited, Reliance Industries Limited Chairman Mukesh Ambani had assured the shareholders about his roadmap for Reliance becoming a net-debt free company before 31st March 2021 and said Reliance has a very clear roadmap to becoming a zero net debt company within the next 18 months that is by 31st March 2021.”

“We have received strong interest from strategic and financial investors in our consumer businesses, Jio and Reliance Retail. We will induct leading global partners in these businesses in the next few quarters, and move towards listing of both these companies within the next five years…… With these initiatives, I have no doubt that your company will have one of the strongest balance sheets in the world,” said Reliance Industries Limited Chairman Mukesh Ambani.

Reliance Industries Limited Chairman Mukesh Ambani said over the past few weeks, he is overwhelmed by the phenomenal interest of the global financial investor community in partnering with Jio.

“As our fundraising milestone from financial investors is achieved, we sincerely thank the marquee group of financial partners and warmly welcome them into Jio Platforms. I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue,” said Reliance Industries Limited Chairman Mukesh Ambani.

RIL is India’s largest private sector company, with a consolidated turnover of Rs 659,205 crore ($87.1 billion), cash profit of Rs 71,446 crore ($9.4 billion), and net profit of Rs 39,880 crore ($5.3 billion) for the year ended March 31, 2020.

RIL’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. RIL is the top-most ranked company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ – currently ranking 106th in terms of both revenues and profits.

The company stands 71st in the ‘Forbes Global 2000’ rankings for 2019 – top-most among Indian companies. It ranks 10th among LinkedIn’s ‘The Best Companies to Work For In India’ (2019).

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