Reliance raises over ₹ 168,818 Crore in just 58 days


SHRI 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.”

Reliance Industries Limited has raised over ₹ 168,818 crore in just 58 days through:
1. Investments by global tech investors – ₹ 115,693.95 crore
2. Rights Issue –                                                        ₹ 53,124.20 crore
The combined capital raised has no precedence globally in such a short time. Both of these are
also unprecedented in Indian corporate history and have set new benchmarks. This is even
more remarkable that this was achieved amidst a global lockdown caused by the COVID-19
Along with the stake sale to BP in the petro-retail JV, the total fund raise is in excess of ₹ 1.75
lakh crore.
Our net-debt was ₹ 161,035 crore, as on 31st March 2020. With these investments, RIL has
Jio Platforms has raised ₹ 115,693.95 crore from leading global investors including Facebook,
Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton
and PIF since April 22, 2020. PIF’s investment marks the end of Jio Platforms’ current phase
of induction of financial partners.

The RIL Rights Issue, which was subscribed 1.59 times, was not only the largest ever in India,
but also the largest in the world by a non-financial entity in the last ten years.
On 12th August 2019, at the 42nd AGM of Reliance Industries Limited, our Chairman Shri Mukesh
Ambani had assured the shareholders about his roadmap for Reliance becoming a net-debt
free company before 31st March 2021 and said:
“We have a very clear roadmap to becoming a zero net debt company within the next 18 months
that is by 31st March 2021……
We have received strong interest from strategic and financial investors in our consumer
businesses, Jio and Reliance Retail. We will induct leading global partners in these businesses
in the next few quarters, and move towards listing of both these companies within the next five
With these initiatives, I have no doubt that your company will have one of the strongest balance
sheets in the world.”
Expressing his gratification at this achievement, Shri Mukesh Ambani stated, “Today I am both
delighted and humbled to announce that we have fulfilled our promise to the shareholders by
making Reliance net debt-free much before our original schedule of 31st March 2021. Exceeding
the expectations of our shareholders and all other stakeholders, again and yet again, is in the
very DNA of Reliance. Therefore, on the proud occasion of becoming a net debt-free company,
I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth
goals, and achieve them, in fulfilment of the vision of our Founder, Dhirubhai Ambani, to
consistently increase our contribution to India’s prosperity and inclusive development.”

Shri Mukesh Ambani further said: “Over the past few weeks, we have been overwhelmed by
the phenomenal interest of the global financial investor community in partnering with Jio. As our
fund-raising milestone from financial investors is achieved, we sincerely thank the marquee
group of financial partners and warmly welcome them into Jio Platforms. I also express my
heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their
overwhelming participation in our record-setting Rights Issue.