Reliance Industries said on Friday that it has raised more than Rs 1,68,818 crore in 58 days. With these investments, the group said it has become net debt-free. Reliance Industries is now “in its golden decade”, said billionaire Mukesh Ambani as his group became net debt-free, much ahead of its original goal of achieving the status by the end of March 2021. “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 statement released early on Friday. The conglomerate’s net debt had stood at Rs 1,61,035 crore as of March 31, 2020.
Here is how Reliance Industries raised nearly Rs 1.69 lakh crore in 58 days:
Reliance Industries shares jumped 1.68 per cent to scale a new record high of Rs 1,684 on Friday. The shares have broken a slew of records in the past few days, rising on the back of investment in Jio as well as the success of the rights issue, say analysts. The RIL stock is up 9.39 per cent so far this year, sharply outperforming the benchmark S&P BSE Sensex index which has fallen 17.08 per cent.