Reliance is net-debt free after Rs 1.69 lakh crore fund raising: Mukesh Ambani

Hindustan Times
19 June 2020
Posted by: Harshit Sabarwal

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.
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.

Comments

Post a Comment

Popular posts from this blog

The Print Rukmini S March 23, 2020 After the   largest   single-day increase in the number of novel coronavirus cases in India, it has never been clearer that the pandemic is upon us and the next few weeks are going to throw up a scenario that many still find hard to imagine. From the data we have, here’s a look at the near future, and what the Narendra Modi government needs to do. India is hitting a period of exponential growth It took India forty days to  reach   the first 50 cases, five more days to reach 100 cases, three more days to reach 150 cases and then just  two   more days to reach 200 cases. From here on, the juggernaut is going to roll fast. The number of confirmed cases in India is now doubling in five days or less, down from six days earlier this month. This puts India in line with trajectories of countries across the world — in the United States, cases are now  doubling every two days . Italy discovered its first...
Read more

Govt allows lateral hiring of experts, 10 top posts on offer

Daily Hunt June 10, 2018 In a bid to infuse domain expertise in key government departments, the department of personnel and training has started the process of lateral hiring. In a newspaper advertisement issued on Sunday, the department invited applications from Indian nationals having expertise in sectors such as revenue, financial services, economic affairs, agriculture, infrastructure and commerce. The move is aimed at bringing in specialized talent in various government departments, contributing to better governance. State government officers in similar positions, officials in public sector undertakings, autonomous bodies, universities, research institutes and those working in private sector companies, consultancies and multinational firms with a minimum of 15 years experience are eligible to apply. This is a pilot project and has received the approval of the Union cabinet, a person familiar with the development said on condition of anonymity. A total o...
Read more

India Joins Russia in Voting Against West-Backed Move to Expand Powers of OPCW

The Wire: June 28, 2018 New Delhi: India voted against a UK-backed move that will allow the global chemical weapons watchdog to apportion blame for illegal attacks, criticising the decision to grant “unchecked powers” to the head of the group which could be used for “partisan” purposes. On Wednesday, more than two-thirds of the member states of the Organisation for the Prohibition of Chemical Weapons (OPCW) voted to authorise the international body to identify the perpetrators and sponsors of a chemical weapons attack. It also specifically called on the OPCW’s technical secretariat to begin work on identifying the perpetrators behind the use of chemical weapons in Syria. The draft decision, sponsored by 30 countries, was adopted at the fourth special session of the conference of the states parties to the Chemical Weapons Convention at the Hague, with 82 in favour and 24 negative votes. While Europe, the United States and their allies voted ‘yes’, there was strong oppo...
Read more