Reliance is now a net debt free company, announces Mukesh Ambani

“I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” Mukesh Ambani said in a press statement.

It has raised more than Rs 1.75 lakh crore adding the money raised from the stake sale to BP in their petro-retail joint venture, RIL had reported total debt of Rs 154,478 crore at the end of the FY19 and Rs 161,035 crore as on 31 March 2020.

The fundraise was mostly propelled by the stake sale in the telecom vertical, it has received Rs 115,693.95 crore from 11 institutional investors in the past 9 weeks for dilution of a total of 24.7% stake in Reliance Jio.

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