RIL deploys Rs 35,000 crore from Jio stake sales into debt funds

Reliance Industries (RIL), the conglomerate owned by Asia's richest man Mukesh Ambani, is plowing billions into Indian debt funds after receiving cash from stake sales and a rights issue, according to people with knowledge of the matter.

The monies have been deployed into ultra-short and money-market funds, and others focused on debt with an average of three-to-five year maturities, according to fund managers who asked not to be identified in discussing investment details.

Ambani’s dealmaking lured about $20 billion of investments from Google to Facebook into his digital platform in recent months, raising much anticipation over his plans for the money. The