Reliance raises over Rs.168,818 cr in just 58 days

  • JIO PLATFORMS HAS NOW ANNOUNCED INVESTMENT OF ₹ 115,693.95 CRORE BY LEADING GLOBAL INVESTORS
  • RIGHTS ISSUE OF RELIANCE RAISED ₹ 53,124.20 CRORE
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.”
 
Mumbai, June 19, 2020: Reliance Industries Limited has raised over ₹ 168,818 crores in just 58 days through:
 
  • Investments by global tech investors         - ₹ 115,693.95 crore
  • 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 pandemic.
 
Along with the stake sale to BP in the petro-retail JV, the total fundraising 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 become NET DEBT-FREE.
 
Jio Platforms has raised ₹ 115,693.95 crores 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.
 
S NoInvestor In Jio Platforms LimitedDate of InvestmentInvestment Amount      (₹ Crore)% Stake
1 Facebook, Inc.22nd April 202043,573.629.99%
2 Silver Lake Partners4th May 20205,655.751.15%
3 Vista Equity Partners 8th May 202011,367.002.32%
4 General Atlantic17th May 20206,598.381.34%
5 KKR22nd May 202011,367.002.32%
6 Mubadala5th June 20209,093.601.85%
7Silver Lake Partners - Additional Investment5th June 20204,546.800.93%
8Abu Dhabi Investment Authority7th June 20205,683.501.16%
9TPG13th June 20204,546.800.93%
10L Catterton13th June 20201,894.500.39%
11PIF18th June 202011,367.002.32%
 Total ₹ 115,693.9524.70%
 
 RIL RIGHTS ISSUE20th May to 3rd June 2020₹ 53,124.20 
 GRAND   TOTAL OF INVESTMENTS RAISED IN JUST 58 DAYS ₹168,818.15 
 
 
The RIL Rights Issue, which was subscribed to 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 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 the listing of both these companies within the next five years……
 
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, 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 fulfillment of the vision of our Founder, Dhirubhai Ambani, to consistently increase our contribution to India’s prosperity and inclusive development.”
 
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.”

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