RIL a net debt-free firm now, will rope in investors in retail biz: Ambani

As on March 2020, RIL had a net debt of Rs 1.61 trn and managed to turn itself net debt-free after raising Rs 1.68 trn via a 24.7% stake sale in Jio Platforms, and its rights issue

Reliance Industries (RIL) has turned net debt-free ahead of its March 2021 deadline and will rope in investors in its consumer and retail businesses in next few quarters, chairman Mukesh Ambani announced today.

As on March 2020, Reliance had a net debt of Rs 1.61 trillion and the company managed to turn itself net debt-free after raising Rs 1.68 trillion via a 24.7 per cent stake sale in Jio Platforms and its rights issue.

During the past two months Jio Platforms, the company's digital services subsidiary, has raised Rs 1.15 trillion offering 24.7 per cent stake to a clutch of global investors