Jio deals and rights issue help RIL meet the target nine months ahead of the March 2021 deadline.
Reliance Industries has achieved its targeted net debt-free status after announcing an 11th investment in Jio Platforms on June 19. Now, RIL is nine months ahead of its March 2021 target after raising more than Rs 168,818 crore in under two months.
The company has raised Rs 1.15 lakh crore through equity investments in its digital unit Jio Platforms and another Rs 53,124 crore from a rights issue. At the end of March, RIL had a net debt of Rs 1.6 lakh crore. Here is how Reliance Industries became net debt-free.Disclaimer: Reliance Industries is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments