Reliance is net-debt free after Rs 1.69 lakh cr fund raising: Mukesh Ambani
Jun 19, 2020, 09:24 IST
New Delhi, Jun 19 () 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.
Advertisement
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. ANZ DRR DRR(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)