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Telugu » Headline News » Reliance becomes debt-free after raising Rs 1.69 lakh crore in 2 months

Reliance becomes debt-free after raising Rs 1.69 lakh crore in 2 months

Friday, June 19, 2020 • Telugu Comments
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Reliance Industries Limited has become debt-free. It's perhaps the only corporate giant in India to be free from all debt.

"The giant has raised over Rs 1,68,818 crore in just 58 days through investments by global tech investors – Rs 115,693.95 crore and Rights Issue – Rs 53,124.20 crore. Thanks to this, it has become debt-free," ANI reported Friday.

The news agency quoted RIL as saying that Reliance's net-debt was Rs 161,035 crore on March 31.

After pulling off the feat, Mukesh Ambani said, "I have fulfilled my promise to shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021."

Thanks to its debt-free status, the shares of Reliance on Friday jumped 2%.

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