RIL raises over Rs 1 trn in 6 weeks, sells 19.9% stake in Jio Platforms

The Mukesh Ambani-led company plans to reduce debt with the proceeds from the stake sale

With the stake sale of 1.85 per cent to Mubadala Investment Company and an additional 0.93 per cent to Silver Lake in its digital services subsidiary on Friday, Reliance Industries’ (RIL’s) fundraising in the past six weeks from foreign investors in the telecom business and the first tranche of the rights issue has surpassed the Rs 1-trillion mark.
 
In terms of equity fundraising, it is a record for a single company, and the number is also higher than what initial public offerings (IPOs) or disinvestments have ever raised in a single year. 
 
The Abu Dhabi government’s Mubadala brought