Reliance is net-debt free after Rs 1.69 lakh cr fund raising: Mukesh Ambani
The company had a net-debt of Rs 1.61 lakh crore as on March 31, 2020.
By : migrator
Update: 2020-06-19 04:12 GMT
Mumbai
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.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android